Inchcape (LON:INCH) Stock Price Target Lowered at Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank lowered Inchcape’s price target from GBX 870 to GBX 750 and maintained a “hold” rating, implying 17.83% upside from the current price.
• Despite the cut, analyst sentiment remains favorable overall: Inchcape has a consensus “Moderate Buy” rating and an average target price of GBX 1,011.75, supported by three Buy ratings and one Hold.
• Inchcape shares opened at GBX 636.50, while the company reported quarterly EPS of GBX 35.50 and a 2.44% net margin; insider Tracy Clarke also purchased 3,029 shares at GBX 819 each.

Inchcape (LON:INCH - Get Free Report) had its price objective reduced by equities researchers at Deutsche Bank Aktiengesellschaft from GBX 870 to GBX 750 in a research note issued to investors on Friday, Digital Look reports. The firm presently has a "hold" rating on the stock. Deutsche Bank Aktiengesellschaft's price objective would indicate a potential upside of 17.83% from the stock's current price.

Several other brokerages have also weighed in on INCH. Jefferies Financial Group reiterated a "buy" rating and set a GBX 1,050 target price on shares of Inchcape in a research report on Thursday. Citigroup increased 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 report on Wednesday, July 29th. Finally, Berenberg Bank cut their price target on shares of Inchcape from GBX 1,170 to GBX 970 and set a "buy" rating for the company in a research note on Thursday. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of GBX 1,011.75.

Inchcape Stock Up 1.7%

INCH opened at GBX 636.50 on Friday. Inchcape has a fifty-two week low of GBX 604.50 and a fifty-two week high of GBX 895. The company has a debt-to-equity ratio of 125.11, a current ratio of 1.03 and a quick ratio of 0.51. The firm's fifty day moving average price is GBX 774.29 and its two-hundred day moving average price is GBX 798.65. The company has a market capitalization of £2.17 billion, a P/E ratio of 10.04, a P/E/G ratio of 2.06 and a beta of 0.97.

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

Inchcape announced that its Board of Directors has approved a stock buyback plan on Tuesday, July 28th that authorizes the company to buy back 0 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Share repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Tracy Clarke acquired 3,029 shares of the company's stock in a transaction on Tuesday, July 28th. The stock was purchased at an average cost of GBX 819 per share, for a total transaction of £24,807.51. 13.75% of the stock is owned by company insiders.

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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