Insider Buying: Inchcape (LON:INCH) Insider Acquires 5,000 Shares of Stock

Key Points

• Insider purchase: Inchcape insider Byron Elmer Grote acquired 5,000 shares at GBX 645 each, for a total investment of £32,250.
• Share performance and buyback: INCH opened at GBX 638, near its one-year low of GBX 604.50 and below its 50- and 200-day moving averages. The company has also authorized an open-market share repurchase program.
• Analyst outlook: Analysts maintain a consensus “Moderate Buy” rating with an average price target of GBX 1,011.75, substantially above the current share price, although one firm has assigned a “Hold” rating.

Inchcape plc (LON:INCH - Get Free Report) insider Byron Elmer Grote purchased 5,000 shares of Inchcape stock in a transaction dated Tuesday, October 27th. The stock was acquired at an average cost of GBX 645 per share, with a total value of £32,250.

Inchcape Stock Performance

Shares of INCH stock opened at GBX 638 on Wednesday. The business's fifty day moving average price is GBX 762.77 and its 200 day moving average price is GBX 801.04. Inchcape plc has a 1-year low of GBX 604.50 and a 1-year high of GBX 895. The firm has a market capitalization of £2.17 billion, a PE ratio of 10.06, a P/E/G ratio of 2.06 and a beta of 0.97. The company has a debt-to-equity ratio of 125.11, a current ratio of 1.03 and a quick ratio of 0.51.

Inchcape (LON:INCH - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported GBX 35.50 earnings per share (EPS) for the quarter. Inchcape had a return on equity of 19.59% and a net margin of 2.44%. As a group, sell-side analysts forecast that Inchcape plc will post 85.96 EPS for the current fiscal year.

Inchcape declared that its Board of Directors has initiated a share buyback plan on Tuesday, July 28th that authorizes the company to repurchase outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on INCH shares. Citigroup increased their target price on shares of Inchcape from GBX 1,274 to GBX 1,277 and gave the company a "buy" rating in a report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft decreased their price target on Inchcape from GBX 870 to GBX 750 and set a "hold" rating on the stock in a research note on Friday, October 23rd. Berenberg Bank lowered their price target on Inchcape from GBX 1,170 to GBX 970 and set a "buy" rating on the stock in a report on Thursday, October 22nd. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a GBX 1,050 price objective on shares of Inchcape in a research note on Thursday, October 22nd. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Inchcape currently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 1,011.75.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.