Inchcape (LON:INCH) Insider Purchases £32,250 in Stock

Inchcape plc (LON:INCH) insider Byron Elmer Grote purchased 5,000 shares of the stock in a transaction dated Tuesday, October 27th. The stock was acquired at an average price of GBX 645 per share, for a total transaction of £32,250.

Inchcape Stock Performance

Shares of INCH opened at GBX 638 on Wednesday. Inchcape plc has a 1-year low of GBX 604.50 and a 1-year high of GBX 895. The stock has a market cap of £2.17 billion, a price-to-earnings ratio of 10.06, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97. The firm has a 50 day simple moving average of GBX 762.77 and a 200-day simple moving average of GBX 801.04. The company has a debt-to-equity ratio of 125.11, a current ratio of 1.03 and a quick ratio of 0.51.

Inchcape (LON:INCH) last issued its quarterly earnings data on Tuesday, July 28th. The company reported GBX 35.50 earnings per share (EPS) for the quarter. Inchcape had a return on equity of 19.59% and a net margin of 2.44%. Equities analysts forecast that Inchcape plc will post 85.96 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

Several analysts have commented on INCH shares. Citigroup lifted their price target on Inchcape from GBX 1,274 to GBX 1,277 and gave the company a “buy” rating in a report on Wednesday, July 29th. Berenberg Bank cut their price objective on shares of Inchcape from GBX 1,170 to GBX 970 and set a “buy” rating on the stock in a report on Thursday, October 22nd. Jefferies Financial Group reiterated a “buy” rating and set a GBX 1,050 price objective on shares of Inchcape in a report on Thursday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Inchcape from GBX 870 to GBX 750 and set a “hold” rating on the stock in a research report on Friday, October 23rd. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Inchcape presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 1,011.75.

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.