Inchcape (LON:INCH) Stock Price Passes Above 200-Day Moving Average of $775.98

Inchcape plc (LON:INCH) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 775.98 ($10.25) and traded as high as GBX 833.50 ($11.01). Inchcape shares last traded at GBX 793 ($10.48), with a volume of 1,327,864 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 1,100 ($14.53) target price on shares of Inchcape in a research report on Tuesday, June 18th. Berenberg Bank raised their target price on Inchcape from GBX 1,040 ($13.74) to GBX 1,120 ($14.80) and gave the stock a “buy” rating in a research note on Thursday, August 8th.

Inchcape Price Performance

The firm has a fifty day moving average price of GBX 830.74 and a two-hundred day moving average price of GBX 775.98. The stock has a market capitalization of £3.23 billion, a P/E ratio of 1,183.58, a P/E/G ratio of 2.06 and a beta of 1.19. The company has a quick ratio of 0.51, a current ratio of 1.10 and a debt-to-equity ratio of 198.14.

Inchcape Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 8th were issued a GBX 11.30 ($0.15) dividend. This represents a dividend yield of 1.34%. The ex-dividend date of this dividend was Thursday, August 8th. Inchcape’s payout ratio is 5,373.13%.

Inchcape Company Profile

Inchcape plc operates as an automotive distributor and retailer. It engages in the distribution, sales, and marketing of new and used cars, and parts. The company also provides aftersales service and body shop repairs; and finance and insurance products and services, as well as product planning, logistics, brand and marketing, channel management, and retail services.