Berenberg Bank Reaffirms Buy Rating for Inchcape (LON:INCH)

Inchcape (LON:INCH)‘s stock had its “buy” rating reiterated by investment analysts at Berenberg Bank in a research note issued to investors on Tuesday, Digital Look reports. They currently have a GBX 1,040 ($12.95) price target on the stock. Berenberg Bank’s price objective would suggest a potential upside of 46.38% from the company’s previous close.

Separately, JPMorgan Chase & Co. reissued an “overweight” rating and issued a GBX 1,050 ($13.07) price objective on shares of Inchcape in a research note on Thursday, April 4th.

Inchcape Price Performance

Inchcape stock opened at GBX 710.50 ($8.84) on Tuesday. 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 firm has a market cap of £2.93 billion, a P/E ratio of 1,093.08, a P/E/G ratio of 2.06 and a beta of 1.22. The business’s fifty day moving average is GBX 680.45 and its two-hundred day moving average is GBX 683.25. Inchcape has a 52 week low of GBX 597.50 ($7.44) and a 52 week high of GBX 1,086.62 ($13.53).

Insider Activity at Inchcape

In related news, insider Duncan Tait acquired 9,590 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was acquired at an average price of GBX 622 ($7.74) per share, for a total transaction of £59,649.80 ($74,255.94). In other Inchcape news, insider Duncan Tait purchased 9,590 shares of the stock in a transaction on Tuesday, March 5th. The stock was bought at an average cost of GBX 622 ($7.74) per share, for a total transaction of £59,649.80 ($74,255.94). Also, insider Byron Elmer Grote purchased 7,000 shares of the stock in a transaction on Tuesday, March 12th. The stock was acquired at an average price of GBX 637 ($7.93) per share, with a total value of £44,590 ($55,508.53). 11.43% of the stock is currently owned by corporate 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.