Inchcape (LON:INCH) Sets New 52-Week Low – Here’s Why

Inchcape plc (LON:INCH) reached a new 52-week low during mid-day trading on Thursday. The company traded as low as GBX 604.50 and last traded at GBX 635.50, with a volume of 12,882,479 shares. The stock had previously closed at GBX 690.

Wall Street Analyst Weigh In

Several brokerages have commented on INCH. Citigroup raised their target price on shares of Inchcape from GBX 1,274 to GBX 1,277 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Berenberg Bank reiterated a “buy” rating and issued a GBX 1,170 price target on shares of Inchcape in a report on Tuesday, July 28th. Jefferies Financial Group reissued a “buy” rating and set a GBX 1,050 price objective on shares of Inchcape in a research report on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Inchcape from GBX 830 to GBX 870 and gave the stock a “hold” rating in a report on Wednesday, July 29th. Three 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 stock presently has an average rating of “Moderate Buy” and an average target price of GBX 1,091.75.

Inchcape Trading Down 7.6%

The company has a market capitalization of £2.17 billion, a P/E ratio of 10.06, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97. The business has a fifty day moving average price of GBX 778.15 and a 200 day moving average price of GBX 799.71. 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 (LON:INCH) last posted its quarterly earnings data on Tuesday, July 28th. The company reported GBX 35.50 earnings per share for the quarter. Inchcape had a return on equity of 19.59% and a net margin of 2.44%. On average, analysts expect that Inchcape plc will post 85.96 earnings per share for the current fiscal year.

Inchcape announced that its Board of Directors has initiated a share buyback plan on Tuesday, July 28th that permits the company to buy back 0 outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Share repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, insider Tracy Clarke purchased 3,029 shares of Inchcape stock in a transaction on Tuesday, July 28th. The stock was purchased at an average price of GBX 819 per share, with a total value of £24,807.51. Insiders own 13.75% 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.