Berenberg Bank Reaffirms Buy Rating for Inchcape (LON:INCH)

Key Points

• Berenberg Bank reaffirmed its Buy rating on Inchcape with a GBX 1,170 price target, implying roughly a 42.06% upside from the prior close.
• Analyst backdrop: four Buys and one Hold give a consensus "Moderate Buy" with an average target of GBX 1,062.50, while Deutsche Bank and Citigroup recently raised targets to GBX 830 and GBX 1,330 respectively.
• Stock and company metrics: shares at GBX 823.60 (market cap £2.93bn), P/E 11.5, quarterly EPS GBX 80.80 and ROE 23.83%; the board approved a stock buyback plan (report lists repurchase authorization as 0 shares) and insiders own 9.43% with one insider recently selling 398 shares.

Inchcape (LON:INCH - Get Free Report)'s stock had its "buy" rating restated by research analysts at Berenberg Bank in a report released on Thursday,Digital Look reports. They currently have a GBX 1,170 price objective on the stock. Berenberg Bank's price objective points to a potential upside of 42.06% from the stock's previous close.

Other research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Inchcape from GBX 800 to GBX 830 and gave the stock a "buy" rating in a research report on Wednesday, March 4th. Citigroup lifted their price target 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. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of GBX 1,062.50.

Inchcape Trading Up 1.3%

Inchcape stock opened at GBX 823.60 on Thursday. The company has a market cap of £2.93 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 2.06 and a beta of 0.95. The firm has a 50-day moving average of GBX 810.52 and a 200-day moving average of GBX 787.01. The company has a debt-to-equity ratio of 100.56, a current ratio of 1.07 and a quick ratio of 0.51. Inchcape has a one year low of GBX 640.50 and a one year high of GBX 895.

Inchcape (LON:INCH - Get Free Report) last released its quarterly earnings data on Tuesday, March 3rd. The company reported GBX 80.80 EPS for the quarter. Inchcape had a net margin of 2.99% and a return on equity of 23.83%. On average, equities analysts expect that Inchcape will post 85.9639233 earnings per share for the current fiscal year.

Inchcape declared that its Board of Directors has approved a stock buyback plan on Tuesday, March 3rd that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Inchcape news, insider Adrian Lewis sold 398 shares of the firm's stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of GBX 789, for a total value of £3,140.22. 9.43% of the stock is owned by corporate 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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