Inchcape (LON:INCH) Given Buy Rating at Berenberg Bank

Inchcape (LON:INCH)‘s stock had its “buy” rating restated by Berenberg Bank in a research note issued to investors on Tuesday,Digital Look reports. They presently have a GBX 1,170 price objective on the stock. Berenberg Bank’s price target indicates a potential upside of 46.07% from the company’s current price.

INCH has been the topic of several other reports. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 1,050 price objective on shares of Inchcape in a research report on Thursday, April 30th. Citigroup upped their target price on shares of Inchcape from GBX 1,115 to GBX 1,330 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Inchcape from GBX 800 to GBX 830 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of GBX 1,060.

Inchcape Stock Performance

Shares of LON:INCH traded down GBX 2 during trading on Tuesday, reaching GBX 801. 826,782 shares of the company’s stock traded hands, compared to its average volume of 7,142,670. The stock has a market capitalization of £2.82 billion, a P/E ratio of 11.19, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97. Inchcape has a 12 month low of GBX 640.50 and a 12 month high of GBX 895. The company has a 50 day moving average of GBX 818.92 and a 200-day moving average of GBX 806.80. The company has a debt-to-equity ratio of 100.56, a current ratio of 1.07 and a quick ratio of 0.51.

Inchcape announced that its board has approved a share repurchase plan on Tuesday, March 3rd that permits the company to buyback 0 shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, insider Adrian Lewis sold 45,674 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of GBX 830, for a total value of £379,094.20. Corporate insiders own 13.29% of the company’s stock.

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.