Inchcape (LON:INCH) Stock Price Expected to Rise, Citigroup Analyst Says

Inchcape (LON:INCH) had its price target boosted by investment analysts at Citigroup from GBX 1,115 to GBX 1,330 in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 60.95% from the stock’s previous close.

Separately, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Inchcape from GBX 800 to GBX 830 and gave the stock a “buy” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 1,050.

Inchcape Stock Performance

Shares of INCH opened at GBX 826.34 on Thursday. The stock has a market capitalization of £2.97 billion, a PE ratio of 7.87, a price-to-earnings-growth ratio of 2.06 and a beta of 0.89. The business’s fifty day moving average price is GBX 817.77 and its 200 day moving average price is GBX 755.92. The company has a debt-to-equity ratio of 100.56, a current ratio of 1.07 and a quick ratio of 0.51. Inchcape has a 12-month low of GBX 575 and a 12-month high of GBX 895.

Inchcape (LON:INCH) 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%. Equities research analysts forecast that Inchcape will post 85.9639233 EPS for the current year.

Inchcape declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 3rd that permits the company to buyback 0 shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity at Inchcape

In other news, insider Byron Elmer Grote acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were acquired at an average price of GBX 758 per share, with a total value of £37,900. Corporate insiders own 9.43% of the company’s stock.

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.