Inchcape (LON:INCH) Given New GBX 1,330 Price Target at Citigroup

Inchcape (LON:INCH) had its price target upped by Citigroup from GBX 1,115 to GBX 1,330 in a research note issued to investors on Thursday morning, Marketbeat Ratings reports. Citigroup currently has a buy rating on the stock.

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

Inchcape Trading Down 0.8%

INCH stock opened at GBX 820.50 on Thursday. The company has a quick ratio of 0.51, a current ratio of 1.07 and a debt-to-equity ratio of 100.56. Inchcape has a twelve month low of GBX 575 and a twelve month high of GBX 895. The company has a market cap of £2.95 billion, a P/E ratio of 7.81, a PEG ratio of 2.06 and a beta of 0.88. The business has a fifty day moving average of GBX 816.60 and a 200-day moving average of GBX 754.79.

Inchcape (LON:INCH) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported GBX 80.80 EPS for the quarter. Inchcape had a return on equity of 23.83% and a net margin of 2.99%. As a group, equities research analysts expect that Inchcape will post 85.9639233 EPS for the current year.

Inchcape declared that its Board of Directors has initiated a share buyback program on Tuesday, March 3rd that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at Inchcape

In other news, insider Byron Elmer Grote purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were acquired at an average cost of GBX 758 per share, for a total transaction of £37,900. 9.43% of the stock is currently owned by company 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.