Citigroup Forecasts Strong Price Appreciation for Inchcape (LON:INCH) Stock

Inchcape (LON:INCH) had its price target boosted by equities research analysts at Citigroup from GBX 1,115 to GBX 1,330 in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 60.44% from the stock’s current price.

Separately, Deutsche Bank Aktiengesellschaft raised their price target on Inchcape from GBX 800 to GBX 830 and gave the company a “buy” rating in a 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of GBX 1,050.

Inchcape Price Performance

Shares of Inchcape stock traded up GBX 23.97 during mid-day trading on Thursday, reaching GBX 828.97. 795,679 shares of the stock were exchanged, compared to its average volume of 6,456,998. Inchcape has a fifty-two week low of GBX 575 and a fifty-two week high of GBX 895. The company has a market cap of £2.98 billion, a price-to-earnings ratio of 7.89, a price-to-earnings-growth ratio of 2.06 and a beta of 0.88. The firm has a 50-day simple moving average of GBX 815.38 and a 200 day simple moving average of GBX 754.27. The company has a current ratio of 1.09, a quick ratio of 0.51 and a debt-to-equity ratio of 301.07.

Inchcape (LON:INCH) last released its quarterly earnings results on Tuesday, March 3rd. The company reported GBX 80.80 EPS for the quarter. Inchcape had a net margin of 4.81% and a return on equity of 35.43%. On average, sell-side analysts predict that Inchcape will post 85.9639233 EPS for the current fiscal year.

Inchcape announced that its Board of Directors has approved a share buyback program on Tuesday, March 3rd that permits the company to repurchase 0 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Inchcape news, insider Byron Elmer Grote purchased 5,000 shares of the stock in a transaction dated Monday, December 8th. The stock was bought at an average price of GBX 758 per share, for a total transaction 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.