Inchcape plc (LON:INCH) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Inchcape has a consensus “Moderate Buy” rating from six analysts, with four buys and two holds. The average 12-month price target is GBX 1,057.40, above the stock’s opening price of GBX 783.59.
• Recent broker updates were generally positive: Citigroup raised its target to GBX 1,277, while Berenberg and Jefferies maintained buy ratings with targets of GBX 1,170 and GBX 1,050, respectively.
• Inchcape reported quarterly earnings of GBX 35.50 per share, alongside a 19.59% return on equity and a 2.44% net margin. Insider Tracy Clarke also purchased 3,029 shares at GBX 819 each.

Inchcape plc (LON:INCH - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the six ratings firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is GBX 1,057.40.

Several research firms have recently commented on INCH. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Inchcape from GBX 830 to GBX 870 and gave the stock a "hold" rating in a report on Wednesday, July 29th. Citigroup raised their target price on shares of 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 reiterated a "buy" rating and issued a GBX 1,170 price target on shares of Inchcape in a report on Tuesday, July 28th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a GBX 1,050 price target on shares of Inchcape in a report on Wednesday, July 29th.

Inchcape Stock Up 0.4%

Shares of INCH opened at GBX 783.59 on Friday. The business's 50 day moving average is GBX 824.62 and its 200 day moving average is GBX 810.92. The company has a current ratio of 1.03, a quick ratio of 0.51 and a debt-to-equity ratio of 125.11. Inchcape has a 12-month low of GBX 675 and a 12-month high of GBX 895. The company has a market capitalization of £2.70 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97.

Inchcape (LON:INCH - Get Free Report) last posted 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%. Research analysts expect that Inchcape will post 85.9639233 earnings per share for the current fiscal year.

Inchcape declared that its Board of Directors has authorized a share buyback plan on Tuesday, July 28th that permits the company to buyback 0 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Inchcape

In other news, insider Tracy Clarke bought 3,029 shares of Inchcape stock in a transaction dated Tuesday, July 28th. The shares were purchased 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 insiders.

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.

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