Inchcape plc (LON:INCH – Get Free Report) has been given an average rating of “Moderate Buy” by the six brokerages that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is GBX 1,057.40.
A number of research firms have recently commented on INCH. Deutsche Bank Aktiengesellschaft upped their target price on Inchcape from GBX 830 to GBX 870 and gave the company a “hold” rating in a research note on Wednesday, July 29th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 1,170 price objective on shares of Inchcape in a research report on Tuesday, July 28th. Citigroup lifted their target price on Inchcape from GBX 1,274 to GBX 1,277 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a GBX 1,050 target price on shares of Inchcape in a research report on Wednesday, July 29th.
Get Our Latest Stock Analysis on INCH
Inchcape Price Performance
Inchcape (LON:INCH – Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported GBX 35.50 EPS for the quarter. Inchcape had a net margin of 2.44% and a return on equity of 19.59%. As a group, equities research analysts forecast that Inchcape will post 85.9639233 EPS for the current year.
Inchcape declared that its board has approved a stock buyback program on Tuesday, July 28th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
Insider Transactions at Inchcape
In related news, insider Tracy Clarke bought 3,029 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were acquired at an average cost of GBX 819 per share, for a total transaction of £24,807.51. 9.43% of the stock is currently owned by company insiders.
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.
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