Inchcape (LON:INCH) Earns "Buy" Rating from Berenberg Bank

Key Points

• Berenberg Bank has reiterated its "buy" rating for Inchcape and set a target price of GBX 1,120, indicating a potential upside of 69.83% from the current price.
• Inchcape's stock opened at GBX 659.50 and has recently reported quarterly earnings of GBX 35.50 per share, with a net margin of 2.45%.
• Insider activity shows mixed trends with one executive selling shares while another purchased, reflecting varying confidence levels among insiders.

Berenberg Bank reaffirmed their buy rating on shares of Inchcape (LON:INCH - Free Report) in a research report report published on Tuesday, MarketBeat reports. The firm currently has a GBX 1,120 price objective on the stock.

Several other brokerages have also weighed in on INCH. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a GBX 800 price objective on shares of Inchcape in a research report on Wednesday, July 30th. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Inchcape in a research report on Thursday, July 31st. Finally, Citigroup dropped their price objective on shares of Inchcape from GBX 1,161 to GBX 1,101 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of GBX 1,007.

Inchcape Stock Up 1.3%

INCH traded up GBX 8.88 during trading hours on Tuesday, hitting GBX 673.38. 32,600,508 shares of the company's stock were exchanged, compared to its average volume of 1,410,774. Inchcape has a 1-year low of GBX 575 and a 1-year high of GBX 850.50. The stock's 50-day moving average is GBX 715.72 and its two-hundred day moving average is GBX 696.92. The stock has a market cap of £2.50 billion, a price-to-earnings ratio of 641.31, a PEG ratio of 2.06 and a beta of 1.19. The company has a quick ratio of 0.51, a current ratio of 1.10 and a debt-to-equity ratio of 206.10.

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

Insider Buying and Selling at Inchcape

In other news, insider Byron Elmer Grote bought 5,000 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were purchased at an average cost of GBX 725 per share, with a total value of £36,250. Also, insider Adrian Lewis sold 24,883 shares of Inchcape stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of GBX 666, for a total transaction of £165,720.78. Insiders have bought a total of 11,650 shares of company stock valued at $8,863,100 in the last ninety days. 5.71% of the stock is currently owned by company insiders.

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.