Inchcape plc (LON:INCH) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Inchcape plc (LON:INCH) have been given a consensus recommendation of “Moderate Buy” by the six research firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is GBX 1,057.40.

A number of equities analysts recently commented on INCH shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Inchcape from GBX 830 to GBX 870 and gave the stock a “hold” rating in a research note on Wednesday, July 29th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 1,050 price target on shares of Inchcape in a report on Wednesday, July 29th. Citigroup upped their price objective on Inchcape from GBX 1,274 to GBX 1,277 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Finally, Berenberg Bank reiterated a “buy” rating and issued a GBX 1,170 price objective on shares of Inchcape in a report on Tuesday, July 28th.

Inchcape Trading Up 1.3%

LON INCH opened at GBX 837.50 on Friday. The company has a quick ratio of 0.51, a current ratio of 1.03 and a debt-to-equity ratio of 125.11. Inchcape has a 52 week low of GBX 640.50 and a 52 week high of GBX 895. The stock has a market capitalization of £2.92 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97. The firm has a 50 day moving average of GBX 808.35 and a two-hundred day moving average of GBX 814.13.

Inchcape (LON:INCH) last announced its quarterly earnings data 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%. As a group, research analysts expect that Inchcape will post 85.9639233 EPS for the current fiscal year.

Inchcape announced that its Board of Directors has authorized a share repurchase plan on Tuesday, July 28th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Inchcape

In other news, insider Tracy Clarke acquired 3,029 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was acquired at an average cost of GBX 819 per share, with a total value of £24,807.51. Insiders own 13.45% 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.