Inchcape plc (LON:INCH) Given Consensus Recommendation of “Moderate Buy” by Analysts

Inchcape plc (LON:INCH) has been given an average rating of “Moderate Buy” by the six analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is GBX 1,060.

Several research firms recently weighed in on INCH. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 1,050 price objective on shares of Inchcape in a research report on Thursday, April 30th. Citigroup boosted their target price on Inchcape from GBX 1,115 to GBX 1,330 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Berenberg Bank reissued a “buy” rating and set a GBX 1,170 target price on shares of Inchcape in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Inchcape from GBX 800 to GBX 830 and gave the stock a “buy” rating in a research note on Wednesday, March 4th.

Inchcape Trading Down 0.1%

INCH opened at GBX 795 on Friday. Inchcape has a twelve month low of GBX 640.50 and a twelve month high of GBX 895. The company has a 50-day simple moving average of GBX 819.15 and a 200 day simple moving average of GBX 807.60. The company has a quick ratio of 0.51, a current ratio of 1.07 and a debt-to-equity ratio of 100.56. The stock has a market capitalization of £2.80 billion, a price-to-earnings ratio of 11.10, a P/E/G ratio of 2.06 and a beta of 0.97.

Inchcape declared that its board has initiated a stock buyback plan on Tuesday, March 3rd that permits the company to repurchase 0 shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, insider Adrian Lewis sold 45,674 shares of the company’s 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. 13.29% of the stock is owned by corporate insiders.

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.