Inchcape (LON:INCH) Sets New 12-Month Low – Should You Sell?

Inchcape plc (LON:INCH)’s stock price reached a new 52-week low during mid-day trading on Wednesday. The company traded as low as GBX 664 and last traded at GBX 673, with a volume of 26769271 shares traded. The stock had previously closed at GBX 686.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on INCH shares. Deutsche Bank Aktiengesellschaft raised their price objective on Inchcape from GBX 830 to GBX 870 and gave the company a “hold” rating in a report 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 research report on Wednesday, July 29th. Citigroup raised their target price on shares of Inchcape from GBX 1,274 to GBX 1,277 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Finally, Berenberg Bank reaffirmed a “buy” rating and set a GBX 1,170 price target on shares of Inchcape in a research report on Tuesday, July 28th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of GBX 1,057.40.

Inchcape Price Performance

The company has a current ratio of 1.03, a quick ratio of 0.51 and a debt-to-equity ratio of 125.11. The company has a market capitalization of £2.29 billion, a P/E ratio of 10.62, a P/E/G ratio of 2.06 and a beta of 0.97. The company has a 50 day moving average price of GBX 805.62 and a 200 day moving average price of GBX 806.23.

Inchcape (LON:INCH) last announced its quarterly earnings results 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%. On average, equities analysts predict that Inchcape plc will post 85.9639233 EPS for the current fiscal year.

Inchcape announced that its Board of Directors has approved a stock repurchase program on Tuesday, July 28th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Tracy Clarke purchased 3,029 shares of the stock in a transaction on Tuesday, July 28th. The shares were purchased at an average cost of GBX 819 per share, with a total value of £24,807.51. Company insiders own 13.75% 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.