Inchcape (LON:INCH) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

Key Points

• Deutsche Bank raised Inchcape’s price target to GBX 870 from GBX 830, while maintaining a “hold” rating; the new target implies roughly 1.46% upside.
• Analyst sentiment is more positive overall, with four “buy” ratings and two “hold” ratings producing a consensus “Moderate Buy” rating and an average target of GBX 1,057.40.
• Inchcape shares opened at GBX 857.50, with a £3.00 billion market capitalization and a 52-week range of GBX 640.50 to GBX 895. An insider recently sold 45,674 shares at GBX 830, while insiders own 13.39% of the company.

Inchcape (LON:INCH - Get Free Report) had its price objective upped by equities research analysts at Deutsche Bank Aktiengesellschaft from GBX 830 to GBX 870 in a research report issued on Wednesday,Digital Look reports. The brokerage presently has a "hold" rating on the stock. Deutsche Bank Aktiengesellschaft's target price suggests a potential upside of 1.46% from the stock's current price.

Several other analysts also recently commented on the company. Jefferies Financial Group reaffirmed a "buy" rating and set a GBX 1,050 price objective on shares of Inchcape in a research note on Wednesday. Berenberg Bank reiterated a "buy" rating and set a GBX 1,170 target price on shares of Inchcape in a report on Tuesday. Finally, Citigroup boosted their target price on Inchcape from GBX 1,274 to GBX 1,277 and gave the company a "buy" rating in a research note on Wednesday. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of GBX 1,057.40.

Inchcape Price Performance

Shares of INCH opened at GBX 857.50 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 0.51 and a debt-to-equity ratio of 100.56. The stock has a market cap of £3.00 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97. The stock's 50-day moving average price is GBX 807.44 and its two-hundred day moving average price is 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 share buyback program on Tuesday, July 28th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Inchcape

In other Inchcape news, insider Adrian Lewis sold 45,674 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of GBX 830, for a total transaction of £379,094.20. 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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