Inchcape plc (LON:INCH) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts give Inchcape an average rating of Moderate Buy from six firms (five buy, one hold) with a consensus 12‑month price target of GBX 1,060, and notable upgrades include Citigroup raising its target to GBX 1,330.
• Shares traded at GBX 820.60 midday, valuing Inchcape at about £2.92bn with a P/E of 11.46, and a 52‑week range of GBX 640.50–895.
• Corporate activity: the board approved a stock repurchase program for open‑market buybacks (the report cites an authorization of zero shares) and insider Adrian Lewis sold 398 shares, with insiders owning 9.43% of the company.

Inchcape plc (LON:INCH - Get Free Report) has been given an average rating of "Moderate Buy" by the six ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is GBX 1,060.

INCH has been the subject of several recent analyst reports. Jefferies Financial Group reaffirmed a "buy" rating and issued a GBX 1,050 target price on shares of Inchcape in a report on Thursday. Deutsche Bank Aktiengesellschaft upped their target price on shares of Inchcape from GBX 800 to GBX 830 and gave the stock a "buy" rating in a report on Wednesday, March 4th. Berenberg Bank reaffirmed a "buy" rating and issued a GBX 1,170 target price on shares of Inchcape in a report on Thursday. Finally, Citigroup upped their target price on shares of Inchcape from GBX 1,115 to GBX 1,330 and gave the stock a "buy" rating in a report on Thursday, March 5th.

Insider Activity at Inchcape

In other Inchcape news, insider Adrian Lewis sold 398 shares of the stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of GBX 789, for a total transaction of £3,140.22. 9.43% of the stock is owned by company insiders.

Inchcape Price Performance

Inchcape stock traded up GBX 7.60 during mid-day trading on Thursday, hitting GBX 820.60. The stock had a trading volume of 846,920 shares, compared to its average volume of 7,130,718. The firm has a market capitalization of £2.92 billion, a P/E ratio of 11.46, a P/E/G ratio of 2.06 and a beta of 0.95. 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 firm's 50 day moving average is GBX 810.52 and its 200 day moving average is GBX 787.01. Inchcape has a one year low of GBX 640.50 and a one year high of GBX 895.

Inchcape (LON:INCH - Get Free Report) last issued its earnings results on Tuesday, March 3rd. The company reported GBX 80.80 earnings per share for the quarter. Inchcape had a net margin of 2.99% and a return on equity of 23.83%. On average, sell-side analysts forecast that Inchcape will post 85.9639233 earnings per share for the current fiscal year.

Inchcape declared that its board has approved a stock repurchase plan on Tuesday, March 3rd that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its shares are undervalued.

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. 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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