Inchcape plc (LON:INCH) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Inchcape plc (LON:INCH) has received an average rating of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is GBX 1,060.

A number of research firms recently commented on INCH. Berenberg Bank reaffirmed a “buy” rating and set a GBX 1,170 price objective on shares of Inchcape in a research note on Thursday, April 30th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 1,050 price objective on shares of Inchcape in a research note on Thursday, April 30th. Citigroup increased their price objective on Inchcape from GBX 1,115 to GBX 1,330 and gave the company a “buy” rating in a research note on Thursday, March 5th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Inchcape from GBX 800 to GBX 830 and gave the stock a “buy” rating in a research report on Wednesday, March 4th.

Insiders Place Their Bets

In related news, insider Adrian Lewis sold 45,674 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of GBX 830, for a total transaction of £379,094.20. Company insiders own 13.29% of the company’s stock.

Inchcape Price Performance

INCH opened at GBX 814 on Friday. The company has a quick ratio of 0.51, a current ratio of 1.07 and a debt-to-equity ratio of 100.56. The firm has a market cap of £2.87 billion, a P/E ratio of 11.37, a PEG ratio of 2.06 and a beta of 0.97. Inchcape has a 52 week low of GBX 640.50 and a 52 week high of GBX 895. The business’s fifty day simple moving average is GBX 818.76 and its 200 day simple moving average is GBX 806.20.

Inchcape declared that its board has authorized a stock buyback program on Tuesday, March 3rd that allows the company to buyback 0 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.