Inchcape's (INCH) Buy Rating Reiterated at Berenberg Bank

Key Points

• Berenberg Bank has reissued a "buy" rating for Inchcape (LON:INCH) with a target price of GBX 1,120 ($14.96), suggesting a potential upside of 55.99% from its previous close.
• Inchcape's stock has a current price of GBX 718 ($9.59) and is down 10.3% from its previous trading period.
• Insider Adrian Lewis purchased 150 shares at an average cost of GBX 684 ($9.14), indicating insider confidence in the company.

Berenberg Bank reaffirmed their buy rating on shares of Inchcape (LON:INCH - Free Report) in a research note issued to investors on Tuesday, Marketbeat reports. Berenberg Bank currently has a GBX 1,120 ($14.85) price objective on the stock.

Separately, Citigroup decreased their price objective on Inchcape from GBX 1,163 ($15.42) to GBX 1,161 ($15.39) and set a "buy" rating for the company in a research note on Thursday, July 17th.

Inchcape Price Performance

Shares of Inchcape stock traded down GBX 11.50 ($0.15) during midday trading on Tuesday, hitting GBX 695 ($9.22). 1,120,567 shares of the company were exchanged, compared to its average volume of 1,329,548. The company has a debt-to-equity ratio of 206.10, a current ratio of 1.10 and a quick ratio of 0.51. The firm has a market cap of £2.73 billion, a P/E ratio of 11.10, a PEG ratio of 2.06 and a beta of 1.19. Inchcape has a 52 week low of GBX 575 ($7.62) and a 52 week high of GBX 874 ($11.59). The firm has a 50 day simple moving average of GBX 724.96 and a 200-day simple moving average of GBX 699.30.

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 for the quarter. Inchcape had a return on equity of 17.60% and a net margin of 2.45%. Research analysts forecast that Inchcape will post 85.9639233 earnings per share for the current year.

Insider Activity at Inchcape

In other news, insider Adrian Lewis purchased 150 shares of the company's stock in a transaction dated Monday, June 16th. The stock was bought at an average cost of GBX 684 ($9.07) per share, for a total transaction of £1,026 ($1,360.38). 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.