Inchcape (LON:INCH) Price Target Raised to GBX 1,330

Inchcape (LON:INCH) had its price target raised by Citigroup from GBX 1,115 to GBX 1,330 in a research note issued to investors on Thursday, Marketbeat Ratings reports. The firm currently has a buy rating on the stock.

Separately, Deutsche Bank Aktiengesellschaft raised their price target on shares of Inchcape from GBX 800 to GBX 830 and gave the stock a “buy” rating in a research note on Wednesday. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of GBX 1,050.

Inchcape Stock Down 0.1%

LON INCH opened at GBX 826.34 on Thursday. The company has a quick ratio of 0.51, a current ratio of 1.07 and a debt-to-equity ratio of 100.56. Inchcape has a 52 week low of GBX 575 and a 52 week high of GBX 895. The business’s fifty day simple moving average is GBX 817.77 and its 200-day simple moving average is GBX 756.52. The firm has a market cap of £2.97 billion, a PE ratio of 7.87, a P/E/G ratio of 2.06 and a beta of 0.89.

Inchcape (LON:INCH) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported GBX 80.80 EPS for the quarter. Inchcape had a return on equity of 23.83% and a net margin of 2.99%. As a group, equities analysts anticipate that Inchcape will post 85.9639233 earnings per share for the current year.

Inchcape declared that its Board of Directors has authorized a stock buyback program on Tuesday, March 3rd that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, insider Byron Elmer Grote purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was purchased at an average price of GBX 758 per share, with a total value of £37,900. Corporate insiders own 9.47% 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.