Key Points
- Insider purchase: Inchcape director Byron Elmer Grote acquired 5,000 shares at GBX 645 each, for a total investment of £32,250.
- Stock performance: Shares opened at GBX 640.50, near the company’s 52-week low of GBX 604.50 and below both its 50-day and 200-day moving averages.
- Analyst outlook: Inchcape has a consensus “Moderate Buy” rating from analysts, with an average price target of GBX 1,011.75; the company has also authorized an open-market share repurchase program.
Inchcape plc (LON:INCH - Get Free Report) insider Byron Elmer Grote acquired 5,000 shares of the business's stock in a transaction dated Tuesday, October 27th. The stock was acquired at an average cost of GBX 645 per share, with a total value of £32,250.
Inchcape Price Performance
INCH stock opened at GBX 640.50 on Thursday. The firm has a market cap of £2.18 billion, a P/E ratio of 10.10, a P/E/G ratio of 2.06 and a beta of 0.97. The firm's fifty day moving average is GBX 759.25 and its 200 day moving average is GBX 800.37. Inchcape plc has a 52 week low of GBX 604.50 and a 52 week high of GBX 895. The company has a debt-to-equity ratio of 125.11, a quick ratio of 0.51 and a current ratio of 1.03.
Inchcape (LON:INCH - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported GBX 35.50 earnings per share for the quarter. Inchcape had a net margin of 2.44% and a return on equity of 19.59%. Research analysts predict that Inchcape plc will post 85.96 earnings per share for the current year.
Inchcape announced that its board has initiated a stock repurchase plan on Tuesday, July 28th that allows the company to repurchase shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its stock is undervalued.
Analyst Ratings Changes
Several brokerages recently weighed in on INCH. Deutsche Bank Aktiengesellschaft dropped their target price on Inchcape from GBX 870 to GBX 750 and set a "hold" rating for the company in a report on Friday, October 23rd. Citigroup lifted their price target on Inchcape from GBX 1,274 to GBX 1,277 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Berenberg Bank lowered their price objective on Inchcape from GBX 1,170 to GBX 970 and set a "buy" rating for the company in a research report on Thursday, October 22nd. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a GBX 1,050 price objective on shares of Inchcape in a research report on Thursday, October 22nd. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of GBX 1,011.75.
Check Out Our Latest Research Report on INCH
About Inchcape
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
