Inchcape PT Lowered to GBX 580 (INCH)
Stock analysts at Nomura lowered their price objective on shares of Inchcape (LON:INCH) from GBX 600 ($9.84) to GBX 580 ($9.52) in a report issued on Monday, Analyst Ratings News reports. The firm currently has a “neutral” rating on the stock. Nomura’s price objective suggests a potential downside of 1.53% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at BNP Paribas raised their price target on shares of Inchcape from GBX 700 ($11.48) to GBX 750 ($12.31) in a research note to investors on Thursday, January 23rd. They now have an “outperform” rating on the stock. Separately, analysts at Panmure Gordon raised their price target on shares of Inchcape from GBX 675 ($11.07) to GBX 750 ($12.31) in a research note to investors on Friday, January 17th. They now have a “buy” rating on the stock. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of GBX 664.09 ($10.90).
Inchcape (LON:INCH) traded down 1.09% during mid-day trading on Monday, hitting GBX 589.00. 464,719 shares of the company’s stock traded hands. Inchcape has a 52-week low of GBX 449.20 and a 52-week high of GBX 655.50. The stock has a 50-day moving average of GBX 616.4 and a 200-day moving average of GBX 610.4. The company’s market cap is £2.737 billion.
Inchcape plc is an automotive retailer and distributor. As December 31, 2011, the Company operated in 26 markets, of which it operated as distributor in 22 of these, with retail only operations in the United Kingdom, Poland, Russia and China.
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