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

Inchcape (LON:INCH)‘s stock had its “buy” rating reaffirmed by analysts at Jefferies Financial Group in a note issued to investors on Thursday, London Stock Exchange reports. They currently have a GBX 1,050 price target on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 67.06% from the stock’s current price.

A number of other equities research analysts have also commented on INCH. Citigroup upped their price target on Inchcape from GBX 1,274 to GBX 1,277 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Berenberg Bank lowered their price objective on Inchcape from GBX 1,170 to GBX 970 and set a “buy” rating for the company in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Inchcape from GBX 830 to GBX 870 and gave the company a “hold” rating in a report on Wednesday, July 29th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of GBX 1,041.75.

Inchcape Trading Down 8.9%

Shares of LON:INCH traded down GBX 61.50 during mid-day trading on Thursday, reaching GBX 628.50. 13,726,441 shares of the company’s stock were exchanged, compared to its average volume of 5,282,986. The firm has a market capitalization of £2.14 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 2.06 and a beta of 0.97. The business’s fifty day moving average price is GBX 778.15 and its 200-day moving average price is GBX 799.71. The company has a debt-to-equity ratio of 125.11, a quick ratio of 0.51 and a current ratio of 1.03. Inchcape has a twelve month low of GBX 604.50 and a twelve month high of GBX 895.

Inchcape (LON:INCH) last issued 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, research analysts predict that Inchcape will post 85.96 EPS for the current fiscal year.

Inchcape announced that its Board of Directors has authorized a share buyback program on Tuesday, July 28th that allows the company to repurchase 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 believes its stock is undervalued.

Insider Buying and Selling at Inchcape

In other Inchcape news, insider Tracy Clarke acquired 3,029 shares of the stock in a transaction dated Tuesday, July 28th. The stock was purchased at an average cost of GBX 819 per share, with a total value of £24,807.51. Company insiders own 13.75% 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.