Inchcape (LON:INCH) Price Target Raised to GBX 1,277

Inchcape (LON:INCH) had its price target lifted by investment analysts at Citigroup from GBX 1,274 to GBX 1,277 in a report released on Wednesday,Digital Look reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 49.62% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Berenberg Bank reissued a “buy” rating and set a GBX 1,170 price objective on shares of Inchcape in a report on Tuesday. Jefferies Financial Group reiterated a “buy” rating and set a GBX 1,050 price target on shares of Inchcape in a research note on Thursday, April 30th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Inchcape currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 1,049.40.

Inchcape Trading Up 3.4%

INCH opened at GBX 853.50 on Wednesday. The company has a debt-to-equity ratio of 100.56, a quick ratio of 0.51 and a current ratio of 1.07. Inchcape has a one year low of GBX 640.50 and a one year high of GBX 895. The company has a market cap of £2.98 billion, a P/E ratio of 11.92, a PEG ratio of 2.06 and a beta of 0.97. The business’s 50-day simple moving average is GBX 807.44 and its 200-day simple moving average is GBX 811.28.

Inchcape announced that its board has authorized a stock buyback plan on Tuesday, July 28th that permits the company to repurchase 0 shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other news, insider Adrian Lewis sold 45,674 shares of Inchcape stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of GBX 830, for a total value of £379,094.20. Company insiders own 13.39% 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.