Inchcape (LON:INCH) Stock Rating Reaffirmed by Berenberg Bank

Inchcape (LON:INCH)‘s stock had its “buy” rating reiterated by research analysts at Berenberg Bank in a note issued to investors on Thursday, Marketbeat reports. They currently have a GBX 1,040 ($12.85) target price on the stock. Berenberg Bank’s price objective would indicate a potential upside of 30.90% from the stock’s previous close.

Separately, JPMorgan Chase & Co. restated an “overweight” rating and set a GBX 1,050 ($12.97) price target on shares of Inchcape in a research note on Thursday, April 4th.

Inchcape Price Performance

Shares of INCH stock opened at GBX 794.50 ($9.81) on Thursday. Inchcape has a fifty-two week low of GBX 597.50 ($7.38) and a fifty-two week high of GBX 1,086.62 ($13.42). The firm has a market capitalization of £3.28 billion, a price-to-earnings ratio of 1,212.32, a PEG ratio of 2.06 and a beta of 1.22. The company has a debt-to-equity ratio of 106.79, a quick ratio of 0.51 and a current ratio of 1.06. The stock’s 50-day simple moving average is GBX 691.18 and its 200-day simple moving average is GBX 683.94.

Insider Buying and Selling

In other news, insider Byron Elmer Grote bought 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was purchased at an average price of GBX 637 ($7.87) per share, with a total value of £44,590 ($55,076.58). In related news, insider Duncan Tait purchased 9,590 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was bought at an average cost of GBX 622 ($7.68) per share, with a total value of £59,649.80 ($73,678.11). Also, insider Byron Elmer Grote purchased 7,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was bought at an average cost of GBX 637 ($7.87) per share, with a total value of £44,590 ($55,076.58). Corporate insiders own 11.43% of the company’s stock.

Inchcape Company Profile

Inchcape plc operates as an automotive distributor and retailer. It engages in the distribution, sales, and marketing of new and used cars, and parts. The company also provides aftersales service and body shop repairs; and finance and insurance products and services. It operates in the Asia Pacific, the United Kingdom, rest of Europe, the Americas, and Africa.