Inchcape (LON:INCH) was upgraded by equities research analysts at Numis Securities to an “add” rating in a research report issued to clients and investors on Thursday, ThisIsMoney.Co.Uk reports. The brokerage currently has a GBX 660 ($8.62) price target on the stock, down from their previous price target of GBX 750 ($9.80). Numis Securities’ price target would indicate a potential upside of 15.79% from the stock’s current price.
Several other analysts have also issued reports on the stock. JPMorgan Chase & Co. restated an “overweight” rating on shares of Inchcape in a research report on Wednesday. Jefferies Financial Group began coverage on shares of Inchcape in a research report on Tuesday, April 30th. They issued a “buy” rating and a GBX 845 ($11.04) price target on the stock. Finally, Berenberg Bank restated a “hold” rating and issued a GBX 600 ($7.84) price target on shares of Inchcape in a research report on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of GBX 763.50 ($9.98).
LON INCH opened at GBX 570 ($7.45) on Thursday. The company has a current ratio of 1.07, a quick ratio of 0.36 and a debt-to-equity ratio of 158.95. The firm has a market capitalization of $2.38 billion and a price-to-earnings ratio of 49.57. Inchcape has a 52-week low of GBX 482.20 ($6.30) and a 52-week high of GBX 826 ($10.79).
In other news, insider Stefan Bomhard sold 35,758 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of GBX 590 ($7.71), for a total transaction of £210,972.20 ($275,672.55). Also, insider Richard Howes sold 52,193 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of GBX 616 ($8.05), for a total transaction of £321,508.88 ($420,108.30).
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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