Inchcape (LON:INCH) Initiates Share Buyback Program

Inchcape (LON:INCHGet Free Report) declared that its Board of Directors has approved a share buyback plan on Tuesday, March 3rd, RTT News reports. The company plans to repurchase 0 shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Inchcape Trading Down 9.2%

INCH opened at GBX 789.50 on Wednesday. The stock has a 50-day moving average of GBX 814.90 and a 200 day moving average of GBX 754. The company has a current ratio of 1.09, a quick ratio of 0.51 and a debt-to-equity ratio of 301.07. Inchcape has a 12 month low of GBX 575 and a 12 month high of GBX 895. The firm has a market cap of £2.84 billion, a P/E ratio of 7.52, a P/E/G ratio of 2.06 and a beta of 0.88.

Inchcape (LON:INCHGet Free Report) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported GBX 80.80 earnings per share (EPS) for the quarter. Inchcape had a return on equity of 35.43% and a net margin of 4.81%. As a group, research analysts forecast that Inchcape will post 85.9639233 EPS for the current year.

Insider Transactions at Inchcape

In other news, insider Byron Elmer Grote acquired 5,000 shares of the company’s stock in a transaction on Monday, December 8th. The stock was bought at an average cost of GBX 758 per share, with a total value of £37,900. 9.43% of the stock is currently owned by corporate insiders.

Key Stories Impacting Inchcape

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Inchcape Company Profile

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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.

Further Reading

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