HSBC Holdings plc Raises Inchcape plc (INCH) Price Target to GBX 1,030
Inchcape plc (LON:INCH) had its target price upped by research analysts at HSBC Holdings plc from GBX 940 ($12.13) to GBX 1,030 ($13.30) in a research report issued on Wednesday. The firm currently has a “buy” rating on the stock. HSBC Holdings plc’s target price points to a potential upside of 21.25% from the stock’s previous close.
A number of other brokerages have also issued reports on INCH. Deutsche Bank AG lifted their price target on shares of Inchcape plc from GBX 860 ($11.10) to GBX 920 ($11.88) and gave the stock a “buy” rating in a research note on Monday. BNP Paribas upgraded shares of Inchcape plc to an “outperform” rating and lifted their price target for the stock from GBX 735 ($9.49) to GBX 1,050 ($13.55) in a research note on Monday, March 27th. JPMorgan Chase & Co. restated an “overweight” rating and issued a GBX 900 ($11.62) price target on shares of Inchcape plc in a research note on Wednesday, March 8th. Citigroup Inc restated a “buy” rating and issued a GBX 870 ($11.23) price target on shares of Inchcape plc in a research note on Tuesday, March 7th. Finally, Canaccord Genuity lifted their price target on shares of Inchcape plc from GBX 695 ($8.97) to GBX 738 ($9.53) and gave the stock a “hold” rating in a research note on Tuesday, March 14th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of GBX 874.78 ($11.29).
Inchcape plc (LON:INCH) traded up 1.11% on Wednesday, hitting GBX 849.50. 1,624,852 shares of the company were exchanged. The stock’s market cap is GBX 3.57 billion. The firm has a 50 day moving average of GBX 844.86 and a 200-day moving average of GBX 738.79. Inchcape plc has a 52-week low of GBX 574.00 and a 52-week high of GBX 861.00.
The firm also recently announced a dividend, which will be paid on Friday, June 23rd. Shareholders of record on Thursday, May 18th will be paid a dividend of GBX 16.80 ($0.22) per share. This is a positive change from Inchcape plc’s previous dividend of $7.00. The ex-dividend date of this dividend is Thursday, May 18th. This represents a yield of 2.17%.
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In other Inchcape plc news, insider Jerry Buhlmann bought 15,000 shares of the stock in a transaction on Thursday, March 16th. The stock was purchased at an average price of GBX 803 ($10.37) per share, for a total transaction of £120,450 ($155,479.54). Also, insider Stefan Bomhard sold 33,472 shares of the business’s stock in a transaction on Monday, March 27th. The shares were sold at an average price of GBX 839 ($10.83), for a total transaction of £280,830.08 ($362,501.72).
About Inchcape plc
Inchcape plc is a United Kingdom-based automotive distributor and retailer. The Company operates in approximately 30 markets. The Company’s segments include Distribution, Retail and Central. The Distribution segment includes regions, such as Australasia, the United Kingdom and Europe, Asia, and Emerging Markets.
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