Inchcape (LON:INCH – Get Free Report) had its price objective decreased by analysts at Berenberg Bank from GBX 1,170 to GBX 970 in a note issued to investors on Thursday, Digital Look reports. The firm currently has a “buy” rating on the stock. Berenberg Bank’s price target points to a potential upside of 53.06% from the stock’s current price.
Several other research firms have also commented on INCH. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 1,050 price objective 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 report on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Inchcape from GBX 830 to GBX 870 and gave the stock a “hold” rating in a research report on Wednesday, July 29th. Three 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of GBX 1,041.75.
Get Our Latest Stock Report on INCH
Inchcape Stock Down 8.2%
Inchcape stock opened at GBX 633.74 on Thursday. The company has a debt-to-equity ratio of 125.11, a quick ratio of 0.51 and a current ratio of 1.03. The firm has a market capitalization of £2.16 billion, a price-to-earnings ratio of 10.00, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97. Inchcape has a fifty-two week low of GBX 604.50 and a fifty-two week high of GBX 895. The stock’s fifty day moving average is GBX 778.15 and its two-hundred day moving average is GBX 799.71.
Inchcape (LON:INCH – Get Free Report) last announced 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%. Analysts predict that Inchcape will post 85.96 EPS for the current fiscal year.
Inchcape declared that its Board of Directors has initiated a stock buyback program on Tuesday, July 28th that authorizes the company to repurchase 0 shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
Insider Transactions at Inchcape
In related news, insider Tracy Clarke bought 3,029 shares of Inchcape stock in a transaction that occurred on Tuesday, July 28th. The shares were purchased at an average price of GBX 819 per share, with a total value of £24,807.51. Insiders own 13.75% 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.
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