Inchcape (LON:INCH) Stock Price Target Cut by Berenberg Bank

Key Points

• Berenberg Bank cut Inchcape’s price target from GBX 1,170 to GBX 970 but maintained a “buy” rating, implying 53.06% upside from the previous close.
• Analyst sentiment remains positive overall, with three “buy” ratings and one “hold”; the consensus rating is “Moderate Buy” with a GBX 1,041.75 price target.
• Inchcape reported quarterly EPS of GBX 35.50, while shares opened at GBX 633.74 and remained below their 50-day and 200-day moving averages.

Inchcape (LON:INCH - Get Free Report) had its price target dropped by investment analysts at Berenberg Bank from GBX 1,170 to GBX 970 in a report released on Thursday, Digital Look reports. The firm currently has a "buy" rating on the stock. Berenberg Bank's price target would suggest a potential upside of 53.06% from the company's previous close.

A number of other research firms also recently weighed in on INCH. Deutsche Bank Aktiengesellschaft lifted their price target on 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 reiterated a "buy" rating and issued a GBX 1,050 price objective on shares of Inchcape in a research report on Wednesday, July 29th. Finally, Citigroup increased their price objective 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. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Inchcape presently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 1,041.75.

Inchcape Price Performance

Shares of INCH opened at GBX 633.74 on Thursday. The company has a current ratio of 1.03, a quick ratio of 0.51 and a debt-to-equity ratio of 125.11. The stock's 50 day moving average is GBX 778.15 and its two-hundred day moving average is GBX 799.71. Inchcape has a twelve month low of GBX 604.50 and a twelve month high of GBX 895. The firm has a market capitalization of £2.16 billion, a PE ratio of 10.00, a P/E/G ratio of 2.06 and a beta of 0.97.

Inchcape (LON:INCH - Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported GBX 35.50 earnings per share (EPS) for the quarter. Inchcape had a return on equity of 19.59% and a net margin of 2.44%. Research analysts anticipate that Inchcape will post 85.96 earnings per share for the current year.

Inchcape announced that its board has approved a share repurchase program on Tuesday, July 28th that authorizes the company to buy back 0 outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Share buyback programs are often a sign that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Tracy Clarke bought 3,029 shares of the stock in a transaction on Tuesday, July 28th. The shares were bought at an average cost of GBX 819 per share, for a total transaction of £24,807.51. Insiders own 13.75% 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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