Citigroup Lowers Inchcape (LON:INCH) Price Target to GBX 1,101

Inchcape (LON:INCH - Free Report) had its price target reduced by Citigroup from GBX 1,161 ($15.41) to GBX 1,101 ($14.61) in a research report report published on Wednesday, MarketBeat reports. They currently have a buy rating on the stock.

Separately, Berenberg Bank reiterated a "buy" rating and issued a GBX 1,120 ($14.87) target price on shares of Inchcape in a report on Tuesday.

Inchcape Price Performance

Shares of INCH traded down GBX 16 ($0.21) during trading hours on Wednesday, reaching GBX 686 ($9.11). 914,102 shares of the stock traded hands, compared to its average volume of 1,324,572. The company has a market cap of £2.70 billion, a P/E ratio of 10.96, a price-to-earnings-growth ratio of 2.06 and a beta of 1.19. The company's 50-day moving average price is GBX 725.29 and its two-hundred day moving average price is GBX 698.92. Inchcape has a 52-week low of GBX 575 ($7.63) and a 52-week high of GBX 863.50 ($11.46). The company has a current ratio of 1.10, a quick ratio of 0.51 and a debt-to-equity ratio of 206.10.

Inchcape (LON:INCH - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported GBX 35.50 ($0.47) earnings per share (EPS) for the quarter. Inchcape had a net margin of 2.45% and a return on equity of 17.60%. On average, analysts anticipate that Inchcape will post 85.9639233 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Adrian Lewis purchased 150 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were purchased at an average cost of GBX 684 ($9.08) per share, with a total value of £1,026 ($1,361.83). Also, insider Byron Elmer Grote purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were purchased at an average cost of GBX 725 ($9.62) per share, for a total transaction of £36,250 ($48,115.21). Corporate insiders own 14.84% 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.