JPMorgan Chase & Co. Reaffirms “Overweight” Rating for Inchcape (LON:INCH)

Inchcape (LON:INCH)‘s stock had its “overweight” rating restated by equities research analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Thursday, Digital Look reports. They presently have a GBX 1,050 ($13.18) price target on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 42.19% from the company’s current price.

Separately, Berenberg Bank decreased their price target on Inchcape from GBX 1,085 ($13.62) to GBX 1,040 ($13.06) and set a “buy” rating for the company in a report on Wednesday, March 13th.

Inchcape Stock Up 0.3 %

Shares of LON:INCH traded up GBX 2.43 ($0.03) during midday trading on Thursday, reaching GBX 738.43 ($9.27). 1,012,988 shares of the company were exchanged, compared to its average volume of 851,571. The firm has a market cap of £3.05 billion, a PE ratio of 1,136.05, a P/E/G ratio of 2.06 and a beta of 1.22. The stock has a fifty day simple moving average of GBX 672.96 and a two-hundred day simple moving average of GBX 685.88. Inchcape has a fifty-two week low of GBX 597.50 ($7.50) and a fifty-two week high of GBX 1,086.62 ($13.64). The company has a quick ratio of 0.51, a current ratio of 1.06 and a debt-to-equity ratio of 106.79.

Insider Activity at Inchcape

In other news, insider Byron Elmer Grote acquired 7,000 shares of the stock in a transaction dated Tuesday, March 12th. The stock was bought at an average price of GBX 637 ($8.00) per share, with a total value of £44,590 ($55,975.40). In other Inchcape news, insider Duncan Tait purchased 9,590 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were purchased at an average price of GBX 622 ($7.81) per share, for a total transaction of £59,649.80 ($74,880.49). Also, insider Byron Elmer Grote acquired 7,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were purchased at an average price of GBX 637 ($8.00) per share, for a total transaction of £44,590 ($55,975.40). 11.43% of the stock is currently owned by company insiders.

About Inchcape

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.