Inchcape (LON:INCH) Receives Buy Rating from Berenberg Bank

Key Points

• Berenberg Bank has reissued a "buy" rating for Inchcape (LON:INCH) with a target price of GBX 1,120, signaling a potential upside of 49.04% from the current stock price.
• The stock currently holds an average rating of "Moderate Buy" among analysts, with a target price averaging GBX 988.75, reflecting positive sentiment overall.
• Inchcape's shares recently traded at GBX 751.50, with a 12-month low of GBX 575 and a high of GBX 819, showing significant fluctuations in its market performance.

Inchcape (LON:INCH - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at Berenberg Bank in a report issued on Thursday, MarketBeat.com reports. They currently have a GBX 1,120 target price on the stock. Berenberg Bank's target price indicates a potential upside of 49.04% from the stock's previous close.

Several other brokerages also recently commented on INCH. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Inchcape in a report on Thursday, October 16th. UBS Group reaffirmed a "buy" rating and set a GBX 920 target price on shares of Inchcape in a report on Friday, October 17th. Citigroup upped their target price on Inchcape from GBX 1,101 to GBX 1,115 and gave the company a "buy" rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a GBX 800 target price on shares of Inchcape in a report on Wednesday, July 30th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of GBX 988.75.

Inchcape Stock Performance

Shares of LON:INCH traded up GBX 9 on Thursday, hitting GBX 751.50. The company's stock had a trading volume of 1,260,560 shares, compared to its average volume of 1,370,453. Inchcape has a 12 month low of GBX 575 and a 12 month high of GBX 819. The company has a market capitalization of £2.75 billion, a price-to-earnings ratio of 7.16, a price-to-earnings-growth ratio of 2.06 and a beta of 1.19. The stock's 50-day moving average is GBX 685.45 and its two-hundred day moving average is GBX 695.58. The company has a debt-to-equity ratio of 206.10, a quick ratio of 0.51 and a current ratio of 1.10.

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

Insider Activity

In other Inchcape news, insider Stuart Rowley bought 3,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average price of GBX 929 per share, for a total transaction of £27,870. Also, insider Byron Elmer Grote bought 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were acquired at an average price of GBX 725 per share, with a total value of £36,250. In the last quarter, insiders have purchased 15,718 shares of company stock valued at $11,565,470. Insiders own 9.26% of the company's stock.

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.

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