Inchcape (LON:INCH) Given New GBX 1,277 Price Target at Citigroup

Key Points

• Citigroup raised its Inchcape price target to GBX 1,277 from GBX 1,274 and maintained a “Buy” rating, implying approximately 49.6% upside from the current price.
• Analyst sentiment remains positive, with five Buy ratings and one Hold rating; MarketBeat reports a consensus “Moderate Buy” rating and an average target price of GBX 1,049.40.
• Inchcape shares opened at GBX 853.50, compared with a 52-week range of GBX 640.50 to GBX 895. The company also reported insider Adrian Lewis sold 45,674 shares at an average price of GBX 830.

Inchcape (LON:INCH - Get Free Report) had its price target increased by equities research analysts at Citigroup from GBX 1,274 to GBX 1,277 in a research note issued on Wednesday,Digital Look reports. The brokerage presently has a "buy" rating on the stock. Citigroup's price objective would indicate a potential upside of 49.62% from the stock's current price.

Several other research analysts have also commented on INCH. Jefferies Financial Group reissued a "buy" rating and issued a GBX 1,050 price objective on shares of Inchcape in a research note on Thursday, April 30th. Berenberg Bank reiterated a "buy" rating and set a GBX 1,170 target price on shares of Inchcape in a report on Tuesday. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of GBX 1,049.40.

Inchcape Stock Performance

LON INCH opened at GBX 853.50 on Wednesday. The company has a debt-to-equity ratio of 100.56, a current ratio of 1.07 and a quick ratio of 0.51. The company has a market cap of £2.98 billion, a P/E ratio of 11.92, a P/E/G ratio of 2.06 and a beta of 0.97. The stock has a 50-day moving average of GBX 807.44 and a two-hundred day moving average of GBX 811.28. Inchcape has a 1-year low of GBX 640.50 and a 1-year high of GBX 895.

Inchcape declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, July 28th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Insider Activity at Inchcape

In other news, insider Adrian Lewis sold 45,674 shares of the business's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of GBX 830, for a total transaction of £379,094.20. Corporate insiders own 13.39% 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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