HSBC Holdings plc Raises Inchcape plc (INCH) Price Target to GBX 1,030
Inchcape plc (LON:INCH) had its price objective raised by research analysts at HSBC Holdings plc from GBX 940 ($11.89) to GBX 1,030 ($13.03) in a research report issued to clients and investors on Wednesday, May 17th. The firm currently has a “buy” rating on the stock. HSBC Holdings plc’s target price suggests a potential upside of 31.55% from the stock’s previous close.
Several other analysts have also recently weighed in on INCH. J P Morgan Chase & Co reissued an “overweight” rating and issued a GBX 900 ($11.39) price target on shares of Inchcape plc in a research note on Thursday, March 2nd. Berenberg Bank reaffirmed a “buy” rating and set a GBX 760 ($9.61) price objective on shares of Inchcape plc in a research report on Thursday, February 9th. Deutsche Bank AG reaffirmed a “buy” rating and set a GBX 860 ($10.88) price objective on shares of Inchcape plc in a research report on Monday, February 6th. Canaccord Genuity increased their price objective on shares of Inchcape plc from GBX 695 ($8.79) to GBX 738 ($9.34) and gave the stock a “hold” rating in a research report on Tuesday, March 14th. Finally, Liberum Capital increased their price objective on shares of Inchcape plc from GBX 680 ($8.60) to GBX 755 ($9.55) and gave the stock a “hold” rating in a research report on Wednesday, March 1st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Inchcape plc currently has an average rating of “Buy” and an average price target of GBX 874.78 ($11.07).
Shares of Inchcape plc (LON:INCH) traded up 1.29% on Wednesday, hitting GBX 783.00. The company’s stock had a trading volume of 1,967,790 shares. The firm’s market cap is GBX 3.29 billion. The stock has a 50-day moving average price of GBX 828.68 and a 200 day moving average price of GBX 764.37. Inchcape plc has a one year low of GBX 574.00 and a one year high of GBX 861.00.
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In other Inchcape plc news, insider Nigel Stein bought 192 shares of Inchcape plc stock in a transaction on Thursday, June 1st. The shares were bought at an average cost of GBX 819 ($10.36) per share, for a total transaction of £1,572.48 ($1,989.22). Also, insider Till Vestring sold 25,000 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of GBX 845 ($10.69), for a total transaction of £211,250 ($267,235.93).
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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