Inchcape (LON:INCH) Price Target Raised to GBX 870

Inchcape (LON:INCH) had its price target hoisted by Deutsche Bank Aktiengesellschaft from GBX 830 to GBX 870 in a report issued on Wednesday morning,Digital Look reports. They currently have a hold rating on the stock.

A number of other equities analysts have also commented on the stock. Jefferies Financial Group reiterated a “buy” rating and set a GBX 1,050 price target on shares of Inchcape in a report on Wednesday. Berenberg Bank restated a “buy” rating and issued a GBX 1,170 price objective on shares of Inchcape in a report on Tuesday. Finally, Citigroup lifted their target price on Inchcape from GBX 1,274 to GBX 1,277 and gave the stock a “buy” rating in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of GBX 1,057.40.

Inchcape Stock Down 1.1%

Shares of LON INCH opened at GBX 845.31 on Wednesday. The company has a 50 day simple moving average of GBX 808.93 and a 200 day simple moving average of GBX 812.49. The firm has a market cap of £2.96 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97. 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 125.11, a current ratio of 1.03 and a quick ratio of 0.51.

Inchcape (LON:INCH) last posted its 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%. On average, research analysts forecast that Inchcape will post 85.9639233 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 repurchase 0 outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Inchcape news, insider Tracy Clarke bought 3,029 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was acquired at an average price of GBX 819 per share, with a total value of £24,807.51. Also, insider Adrian Lewis sold 45,674 shares of Inchcape stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of GBX 830, for a total value of £379,094.20. 13.39% of the stock is owned by corporate insiders.

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.