Inchcape (OTCMKTS:IHCPF) Shares Up 2.3% – Here’s Why

Inchcape plc (OTCMKTS:IHCPF)’s share price was up 2.3% during mid-day trading on Thursday . The stock traded as high as C$10.20 and last traded at C$10.20. Approximately 2,580 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 7,525 shares. The stock had previously closed at C$9.97.

Analysts Set New Price Targets

IHCPF has been the topic of several analyst reports. UBS Group began coverage on shares of Inchcape in a report on Thursday, September 18th. They set a “buy” rating on the stock. Citigroup reaffirmed a “buy” rating on shares of Inchcape in a research note on Monday, October 20th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Inchcape has an average rating of “Moderate Buy”.

Inchcape Trading Up 2.3%

The business’s fifty day moving average is C$9.39 and its two-hundred day moving average is C$9.47.

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, as well as product planning, logistics, brand and marketing, channel management, and retail services.