Key Points
- Inchcape non-executive director Tracy Clarke bought 3,029 shares at GBX 819 each, investing approximately £24,808 in the company.
- Shares opened at GBX 843 and have traded between GBX 640.50 and GBX 895 over the past year; the company’s market capitalization is approximately £2.95 billion.
- Analyst sentiment is broadly positive, with four Buy ratings and two Holds and an average price target of GBX 1,057.40. Jefferies, Berenberg, and Citi maintained Buy recommendations, while Deutsche Bank retained a Hold rating despite raising its target.
Inchcape plc (LON:INCH - Get Free Report) insider Tracy Clarke bought 3,029 shares of Inchcape stock in a transaction dated Tuesday, July 28th. The shares were bought at an average cost of GBX 819 per share, with a total value of £24,807.51.
Inchcape Trading Up 2.1%
LON:INCH opened at GBX 843 on Thursday. Inchcape plc has a 12 month low of GBX 640.50 and a 12 month high of GBX 895. 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 firm's 50 day moving average is GBX 807.90 and its 200 day moving average is GBX 811.76. The stock has a market capitalization of £2.95 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97.
Inchcape announced that its board has initiated a share buyback program on Tuesday, July 28th that permits the company to repurchase 0 shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on INCH. Deutsche Bank Aktiengesellschaft boosted their price objective on Inchcape from GBX 830 to GBX 870 and gave the company a "hold" rating in a research note on Wednesday. Jefferies Financial Group reaffirmed a "buy" rating and issued a GBX 1,050 price objective on shares of Inchcape in a report on Wednesday. Berenberg Bank reissued a "buy" rating and set a GBX 1,170 target price on shares of Inchcape in a report on Tuesday. Finally, Citigroup increased their target price on Inchcape from GBX 1,274 to GBX 1,277 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 two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of GBX 1,057.40.
View Our Latest Research Report on INCH
Key Headlines Impacting Inchcape
Here are the key news stories impacting Inchcape this week:
- Positive Sentiment: Inchcape expanded its share buyback programme from £175 million to £250 million, signaling management’s confidence in the company’s valuation and potentially supporting earnings per share by reducing the number of shares outstanding. Inchcape boosts share buyback to £250m in show of confidence
- Positive Sentiment: Jefferies reaffirmed its “buy” rating and GBX 1,050 price target, implying substantial upside from recent trading levels. Broker rating updates
- Positive Sentiment: Berenberg maintained its “buy” rating with a GBX 1,170 target, while Citi raised its target slightly to GBX 1,277 and retained a “buy” recommendation. Broker rating updates
- Positive Sentiment: Non-executive director Tracy Clarke bought 3,029 shares for approximately £24,808 at GBX 819 each. The insider purchase may be viewed as a modest vote of confidence in Inchcape’s prospects. Inchcape Discloses Share Purchase by Non-Executive Director Tracy Clarke
- Neutral Sentiment: Deutsche Bank raised its price target from GBX 830 to GBX 870 but kept a “hold” rating, suggesting more limited conviction than the other brokers. Broker rating updates
- Neutral Sentiment: Inchcape Romania will distribute China’s GAC AION electric vehicles in Romania, adding a new brand and potential growth opportunity, although the near-term financial impact is unclear. GAC AION enters the Romanian market
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.
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