Inchcape plc (LON:INCH) Receives Average Recommendation of “Moderate Buy” from Brokerages

Inchcape plc (LON:INCH) has been given an average rating of “Moderate Buy” by the six brokerages that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is GBX 1,057.40.

INCH has been the subject of several analyst reports. Citigroup upped their target price on Inchcape from GBX 1,274 to GBX 1,277 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Berenberg Bank reissued a “buy” rating and issued a GBX 1,170 price target on shares of Inchcape in a research note on Tuesday, July 28th. Jefferies Financial Group restated a “buy” rating and issued a GBX 1,050 price target on shares of Inchcape in a report on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Inchcape from GBX 830 to GBX 870 and gave the stock a “hold” rating in a report on Wednesday, July 29th.

Insider Buying and Selling at Inchcape

In related news, insider Tracy Clarke acquired 3,029 shares of the stock in a transaction dated Tuesday, July 28th. The stock was bought at an average cost of GBX 819 per share, with a total value of £24,807.51. 9.43% of the stock is currently owned by company insiders.

Inchcape Stock Down 0.8%

Shares of LON INCH opened at GBX 831 on Wednesday. The firm has a market cap of £2.87 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97. The company has a debt-to-equity ratio of 125.11, a quick ratio of 0.51 and a current ratio of 1.03. Inchcape has a 1 year low of GBX 640.50 and a 1 year high of GBX 895. The firm’s 50 day moving average price is GBX 817.35 and its 200 day moving average price is GBX 815.45.

Inchcape (LON:INCH) last issued 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%. As a group, sell-side analysts anticipate that Inchcape will post 85.9639233 earnings per share for the current year.

Inchcape declared that its board has authorized a share buyback program 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. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.