Inchcape (LON:INCH) Price Target Raised to GBX 1,277

Inchcape (LON:INCH) had its price target increased by Citigroup from GBX 1,274 to GBX 1,277 in a research report report published on Wednesday morning,Digital Look reports. Citigroup currently has a buy rating on the stock.

A number of other analysts have also commented on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 1,050 target price on shares of Inchcape in a report on Thursday, April 30th. Berenberg Bank reissued a “buy” rating and issued a GBX 1,170 price target on shares of Inchcape in a research note on Tuesday. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Inchcape has an average rating of “Moderate Buy” and a consensus target price of GBX 1,057.40.

Inchcape Stock Down 1.1%

Shares of LON:INCH opened at GBX 845.31 on Wednesday. Inchcape has a one year low of GBX 640.50 and a one year high of GBX 895. The company has a 50 day moving average of GBX 808.93 and a 200-day moving average of GBX 812.49. The company has a debt-to-equity ratio of 125.11, a current ratio of 1.03 and a quick ratio of 0.51. The stock has a market cap of £2.96 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 2.06 and a beta of 0.97.

Inchcape (LON:INCH) last announced its quarterly earnings data on Tuesday, July 28th. The company reported GBX 35.50 earnings per share for the quarter. Inchcape had a net margin of 2.44% and a return on equity of 19.59%. On average, sell-side analysts forecast that Inchcape will post 85.9639233 earnings per share for the current year.

Inchcape announced that its Board of Directors has initiated a stock repurchase program on Tuesday, July 28th that allows the company to repurchase 0 shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign 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 firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of GBX 830, for a total transaction of £379,094.20. Also, insider Tracy Clarke acquired 3,029 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were acquired at an average price of GBX 819 per share, for a total transaction of £24,807.51. Company insiders own 13.39% of the company’s stock.

Inchcape Company Profile

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.