Jefferies Financial Group Reiterates "Buy" Rating for Inchcape (LON:INCH)

Key Points

• Jefferies Financial Group reiterated its “Buy” rating on Inchcape and set a GBX 1,050 price target, implying 22.45% upside from the previous close.
• Analyst sentiment remains positive, with four Buy ratings and two Holds; the consensus rating is “Moderate Buy” with an average price target of GBX 1,057.40.
• Inchcape shares rose 3.9% to open at GBX 857.50, while insider Adrian Lewis sold 45,674 shares at GBX 830 each in a transaction worth approximately £379,094.

Inchcape (LON:INCH - Get Free Report)'s stock had its "buy" rating reissued by Jefferies Financial Group in a report released on Wednesday,Digital Look reports. They currently have a GBX 1,050 target price on the stock. Jefferies Financial Group's price objective points to a potential upside of 22.45% from the stock's previous close.

Other analysts have also recently issued research reports about the stock. Berenberg Bank reaffirmed a "buy" rating and set a GBX 1,170 price objective on shares of Inchcape in a research note on Tuesday. Citigroup raised their price target on shares of Inchcape from GBX 1,274 to GBX 1,277 and gave the stock a "buy" rating in a report on Wednesday. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of GBX 1,057.40.

Inchcape Trading Up 3.9%

INCH stock 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 business's 50-day moving average is GBX 807.44 and its 200 day moving average is GBX 811.28. The stock has a market cap of £3.00 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 2.06 and a beta of 0.97. Inchcape has a 12-month low of GBX 640.50 and a 12-month high of GBX 895.

Inchcape declared that its board has authorized a stock repurchase plan on Tuesday, July 28th that permits the company to repurchase 0 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Inchcape news, insider Adrian Lewis sold 45,674 shares of the business's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of GBX 830, for a total value of £379,094.20. 13.39% of the stock is currently owned by insiders.

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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