Citigroup Issues Pessimistic Forecast for Inchcape (LON:INCH) Stock Price

Inchcape (LON:INCH) had its price target reduced by Citigroup from GBX 1,194 ($16.01) to GBX 1,163 ($15.60) in a research report sent to investors on Tuesday, MarketBeat Ratings reports. Citigroup currently has a buy rating on the stock.

Separately, JPMorgan Chase & Co. lowered shares of Inchcape to a “neutral” rating in a research note on Thursday, January 23rd.

Inchcape Price Performance

INCH stock opened at GBX 678.50 ($9.10) on Tuesday. The firm’s 50-day moving average price is GBX 689.29 and its two-hundred day moving average price is GBX 720.14. Inchcape has a 12-month low of GBX 575 ($7.71) and a 12-month high of GBX 874 ($11.72). The stock has a market capitalization of £2.67 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 2.06 and a beta of 1.19. The company has a current ratio of 1.10, a quick ratio of 0.51 and a debt-to-equity ratio of 206.10.

Inchcape (LON:INCH) last released its quarterly earnings data on Tuesday, March 4th. The company reported GBX 71.30 ($0.96) earnings per share (EPS) for the quarter. Inchcape had a net margin of 2.45% and a return on equity of 17.60%. As a group, equities analysts predict that Inchcape will post 85.9639233 earnings per share for the current year.

Inchcape Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, June 16th. Shareholders of record on Thursday, May 1st will be issued a GBX 17.20 ($0.23) dividend. This represents a yield of 2.38%. The ex-dividend date of this dividend is Thursday, May 1st. This is a boost from Inchcape’s previous dividend of $11.30. Inchcape’s dividend payout ratio is 57.52%.

Insider Activity

In related news, insider Duncan Tait acquired 6,948 shares of Inchcape stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price of GBX 716 ($9.60) per share, with a total value of £49,747.68 ($66,721.67). Company insiders own 14.84% 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.