Jefferies Financial Group Reaffirms “Buy” Rating for Inchcape (LON:INCH)

Inchcape (LON:INCH)‘s stock had its “buy” rating reaffirmed by equities researchers at Jefferies Financial Group in a research note issued on Wednesday,Digital Look reports. They currently have a GBX 1,050 target price on the stock. Jefferies Financial Group’s target price points to a potential upside of 22.45% from the stock’s current price.

Several other research firms have also recently weighed in on INCH. Citigroup boosted their target price on Inchcape from GBX 1,274 to GBX 1,277 and gave the stock a “buy” rating in a research note on Wednesday. Berenberg Bank reissued a “buy” rating and set a GBX 1,170 price objective on shares of Inchcape in a report on Tuesday. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,057.40.

Inchcape Stock Up 3.9%

Inchcape stock opened at GBX 857.50 on Wednesday. Inchcape has a 1-year low of GBX 640.50 and a 1-year high of GBX 895. The company has a debt-to-equity ratio of 100.56, a current ratio of 1.07 and a quick ratio of 0.51. The stock has a market cap of £3.00 billion, a PE ratio of 11.98, a P/E/G ratio of 2.06 and a beta of 0.97. The stock’s fifty day moving average is GBX 807.44 and its two-hundred day moving average is GBX 811.28.

Inchcape announced that its Board of Directors has authorized a share buyback program on Tuesday, July 28th that allows the company to buyback 0 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Inchcape

In other news, insider Adrian Lewis sold 45,674 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of GBX 830, for a total value of £379,094.20. Insiders own 13.39% of the company’s stock.

About Inchcape

Inchcape is the leading global automotive distributor, with operations across six continents. By combining our in-market expertise with our unique technology and advanced data analytics, we create innovative customer experiences that deliver outstanding performance for our partners – building stronger automotive brands and creating sustainable growth. Our distribution platform connects the products of mobility company partners with customers, and our responsibilities span product planning and pricing, import and logistics, brand and marketing to operating digital sales, managing physical sales and aftermarket service channels.