Insider Buying: Inchcape (LON:INCH) Insider Acquires £32,250 in Stock

Inchcape plc (LON:INCH) insider Byron Elmer Grote bought 5,000 shares of the business’s stock in a transaction on Tuesday, October 27th. The shares were acquired at an average price of GBX 645 per share, for a total transaction of £32,250.

Inchcape Stock Down 0.9%

Shares of LON INCH opened at GBX 631.50 on Friday. The firm has a market capitalization of £2.15 billion, a PE ratio of 9.96, a price-to-earnings-growth ratio of 2.06 and a beta of 0.98. The company has a current ratio of 1.03, a quick ratio of 0.51 and a debt-to-equity ratio of 125.11. Inchcape plc has a 1 year low of GBX 604.50 and a 1 year high of GBX 895. The firm’s 50-day moving average is GBX 752.03 and its 200-day moving average is GBX 798.86.

Inchcape (LON:INCH) last posted its quarterly earnings results 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%. Equities analysts expect that Inchcape plc will post 85.96 EPS for the current year.

Inchcape declared that its Board of Directors has initiated a share repurchase plan on Tuesday, July 28th that allows the company to buy back shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Share repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

INCH has been the subject of several recent research reports. Jefferies Financial Group reiterated a “buy” rating and set a GBX 1,050 target price on shares of Inchcape in a research report on Thursday, October 22nd. Deutsche Bank Aktiengesellschaft reduced their price target on Inchcape from GBX 870 to GBX 750 and set a “hold” rating on the stock in a research report on Friday, October 23rd. Citigroup lifted their price objective on Inchcape from GBX 1,274 to GBX 1,277 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Finally, Berenberg Bank dropped their price objective on Inchcape from GBX 1,170 to GBX 970 and set a “buy” rating for the company in a report on Thursday, October 22nd. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of GBX 1,011.75.

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.