Inchcape ( (GB:INCH) ) has shared an update.
Inchcape plc, a company engaged in a share buyback programme, announced the purchase of 622,831 ordinary shares on May 2, 2025, through Jefferies International Limited. The shares were bought at prices ranging from 662.00p to 675.00p per share, with a volume-weighted average price of 666.97p. The company plans to cancel these shares and not hold them in treasury. This transaction is part of a larger buyback initiative that began on March 4, 2025, with a total of 12,094,856 shares purchased so far at a cost of £82,111,396.01. The buyback is intended to reduce the number of shares in circulation, potentially increasing the value of remaining shares and reflecting confidence in the company’s financial health.
Spark’s Take on GB:INCH Stock
According to Spark, TipRanks’ AI Analyst, GB:INCH is a Outperform.
Inchcape demonstrates a solid financial foundation with strong profitability and efficient operations, supported by an attractive valuation. The strategic share buyback program enhances shareholder value, balancing the caution warranted by bearish technical indicators and recent financial metric fluctuations. Overall, Inchcape is well-positioned for potential growth, though market conditions should be closely monitored.
To see Spark’s full report on GB:INCH stock, click here.
More about Inchcape
YTD Price Performance: -11.31%
Average Trading Volume: 1,094,823
Technical Sentiment Signal: Hold
Current Market Cap: £2.54B
Learn more about INCH stock on TipRanks’ Stock Analysis page.