Shares of Inchcape plc (LON:INCH) have been assigned an average rating of “Buy” from the seven brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is GBX 774.67 ($10.12).
Several research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Inchcape from GBX 823 ($10.75) to GBX 803 ($10.49) and set an “overweight” rating on the stock in a research report on Friday, March 1st. HSBC upgraded shares of Inchcape to a “buy” rating and raised their target price for the stock from GBX 650 ($8.49) to GBX 690 ($9.02) in a research note on Thursday, January 10th. Finally, Berenberg Bank restated a “hold” rating and issued a GBX 600 ($7.84) target price on shares of Inchcape in a research note on Monday, March 4th.
In other news, insider Stefan Bomhard sold 35,758 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of GBX 590 ($7.71), for a total value of £210,972.20 ($275,672.55). Also, insider Coline McConville bought 337 shares of Inchcape stock in a transaction dated Monday, March 4th. The stock was purchased at an average price of GBX 599 ($7.83) per share, with a total value of £2,018.63 ($2,637.70).
Shares of Inchcape stock opened at GBX 570.50 ($7.45) on Friday. Inchcape has a 1 year low of GBX 482.20 ($6.30) and a 1 year high of GBX 826 ($10.79). The company has a current ratio of 1.07, a quick ratio of 0.39 and a debt-to-equity ratio of 44.41. The firm has a market cap of $2.37 billion and a price-to-earnings ratio of 49.61.
The company also recently announced a dividend, which will be paid on Friday, June 21st. Stockholders of record on Thursday, May 16th will be paid a GBX 17.90 ($0.23) dividend. This represents a dividend yield of 3.14%. The ex-dividend date of this dividend is Thursday, May 16th. This is a boost from Inchcape’s previous dividend of $8.90. Inchcape’s dividend payout ratio (DPR) is 2.35%.
Inchcape plc operates as an automotive distributor and retailer in the premium and luxury automotive sectors. The company sells and retails new and used cars of various brands. It also provides after sales servicing and parts; and vehicle finance and insurance products and services. The company operates in Asia, Australasia, the United Kingdom, Europe, Africa, South America, and Russia.
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