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

Inchcape (LON:INCH)‘s stock had its “buy” rating reissued by Berenberg Bank in a report released on Tuesday, Digital Look reports. They presently have a GBX 1,040 ($12.95) price target on the stock. Berenberg Bank’s price objective points to a potential upside of 46.38% from the stock’s previous close.

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

Inchcape Price Performance

Shares of LON:INCH opened at GBX 710.50 ($8.84) on Tuesday. The company has a quick ratio of 0.51, a current ratio of 1.06 and a debt-to-equity ratio of 106.79. Inchcape has a twelve month low of GBX 597.50 ($7.44) and a twelve month high of GBX 1,086.62 ($13.53). The stock’s 50 day moving average is GBX 680.45 and its 200-day moving average is GBX 683.25. The firm has a market capitalization of £2.93 billion, a price-to-earnings ratio of 1,093.08, a PEG ratio of 2.06 and a beta of 1.22.

Insider Activity at Inchcape

In related news, insider Duncan Tait purchased 9,590 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was acquired at an average cost of GBX 622 ($7.74) per share, with a total value of £59,649.80 ($74,255.94). In other Inchcape news, insider Duncan Tait acquired 9,590 shares of Inchcape stock in a transaction on Tuesday, March 5th. The stock was purchased at an average price of GBX 622 ($7.74) per share, for a total transaction of £59,649.80 ($74,255.94). Also, insider Byron Elmer Grote acquired 7,000 shares of Inchcape 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 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.