Shares of Inchcape plc (LON:INCH – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is GBX 1,057.40.
Several equities research analysts recently commented on the company. Berenberg Bank reiterated a “buy” rating and issued a GBX 1,170 price objective on shares of Inchcape in a report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Inchcape from GBX 830 to GBX 870 and gave the company a “hold” rating in a research note 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 report on Wednesday, July 29th. Finally, Citigroup lifted their price target on shares of Inchcape from GBX 1,274 to GBX 1,277 and gave the stock a “buy” rating in a research note on Wednesday, July 29th.
Get Our Latest Stock Analysis on INCH
Inchcape Stock Up 0.8%
Inchcape (LON:INCH – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported GBX 35.50 earnings per share for the quarter. Inchcape had a return on equity of 19.59% and a net margin of 2.44%. Equities analysts predict that Inchcape will post 85.9639233 EPS for the current fiscal year.
Inchcape declared that its Board of Directors has authorized a share buyback plan on Tuesday, July 28th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
Insider Transactions at Inchcape
In related news, insider Tracy Clarke bought 3,029 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were bought at an average price of GBX 819 per share, for a total transaction of £24,807.51. Corporate insiders own 13.45% 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.
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