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

Inchcape (LON:INCH) had its target price boosted by research analysts at Citigroup from GBX 1,115 to GBX 1,330 in a report released on Thursday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 60.44% from the company’s current price.

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

Inchcape Trading Up 3.0%

Inchcape stock traded up GBX 23.97 during midday trading on Thursday, hitting GBX 828.97. 795,679 shares of the stock were exchanged, compared to its average volume of 6,456,998. The stock has a market capitalization of £2.98 billion, a PE ratio of 7.89, a P/E/G ratio of 2.06 and a beta of 0.88. The company has a fifty day simple moving average of GBX 815.38 and a two-hundred day simple moving average of GBX 754.27. The company has a quick ratio of 0.51, a current ratio of 1.09 and a debt-to-equity ratio of 301.07. Inchcape has a 52 week low of GBX 575 and a 52 week high of GBX 895.

Inchcape (LON:INCH) last posted its earnings results on Tuesday, March 3rd. The company reported GBX 80.80 earnings per share for the quarter. Inchcape had a net margin of 4.81% and a return on equity of 35.43%. Equities research analysts anticipate that Inchcape will post 85.9639233 EPS for the current fiscal year.

Inchcape declared that its board has authorized a stock repurchase program on Tuesday, March 3rd that permits the company to buyback 0 shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Inchcape

In other news, insider Byron Elmer Grote bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were acquired at an average price of GBX 758 per share, with a total value of £37,900. Corporate insiders own 9.43% 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.