Inchcape (LON:INCH) Given New GBX 870 Price Target at Deutsche Bank Aktiengesellschaft

Inchcape (LON:INCH) had its target price hoisted by investment analysts at Deutsche Bank Aktiengesellschaft from GBX 830 to GBX 870 in a research note issued on Wednesday,Digital Look reports. The firm presently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 1.46% from the company’s current price.

Other analysts also recently issued research reports about the stock. Jefferies Financial Group reissued a “buy” rating and set a GBX 1,050 target price on shares of Inchcape in a research report on Wednesday. Citigroup upped their price objective on shares of Inchcape from GBX 1,274 to GBX 1,277 and gave the company a “buy” rating in a research note on Wednesday. Finally, Berenberg Bank reiterated a “buy” rating and set a GBX 1,170 price objective on shares of Inchcape in a research report on Tuesday. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,057.40.

Inchcape Stock Up 3.9%

LON:INCH opened at GBX 857.50 on Wednesday. The firm’s 50 day simple moving average is GBX 807.44 and its 200 day simple moving average is GBX 811.28. 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 one year low of GBX 640.50 and a one year high of GBX 895. The company has a market cap of £3.00 billion, a PE ratio of 11.98, a P/E/G ratio of 2.06 and a beta of 0.97.

Inchcape declared that its Board of Directors has initiated a share repurchase plan on Tuesday, July 28th that allows the company to buyback 0 shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Inchcape

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

About Inchcape

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.