Inchcape (LON:INCH) Earns Buy Rating from Berenberg Bank

Berenberg Bank reaffirmed their buy rating on shares of Inchcape (LON:INCH) in a report issued on Tuesday, Marketbeat reports. They currently have a GBX 1,040 ($12.95) price target on the stock.

Separately, JPMorgan Chase & Co. reaffirmed an overweight rating and set a GBX 1,050 ($13.07) target price on shares of Inchcape in a research report on Thursday, April 4th.

Inchcape Trading Up 0.3 %

Shares of Inchcape stock opened at GBX 732.50 ($9.12) on Tuesday. The company has a quick ratio of 0.51, a current ratio of 1.06 and a debt-to-equity ratio of 106.79. The firm has a market cap of £3.03 billion, a price-to-earnings ratio of 1,126.92, a price-to-earnings-growth ratio of 2.06 and a beta of 1.22. The business has a fifty day simple moving average of GBX 683.12 and a 200-day simple moving average of GBX 683.59. Inchcape has a fifty-two week low of GBX 597.50 ($7.44) and a fifty-two week high of GBX 1,086.62 ($13.53).

Inchcape Increases Dividend

The firm also recently declared a dividend, which will be paid on Monday, June 17th. Investors of record on Thursday, May 2nd will be given a dividend of GBX 24.30 ($0.30) per share. This represents a yield of 3.57%. This is a positive change from Inchcape’s previous dividend of $9.60. The ex-dividend date is Thursday, May 2nd. Inchcape’s payout ratio is presently 5,230.77%.

Insider Activity at Inchcape

In other Inchcape news, insider Byron Elmer Grote purchased 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were purchased at an average cost of GBX 637 ($7.93) per share, with a total value of £44,590 ($55,508.53). In other news, insider Byron Elmer Grote bought 7,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were purchased at an average price of GBX 637 ($7.93) per share, for a total transaction of £44,590 ($55,508.53). Also, insider Duncan Tait bought 9,590 shares of the stock in a transaction on Tuesday, March 5th. The stock was purchased at an average price of GBX 622 ($7.74) per share, for a total transaction of £59,649.80 ($74,255.94). 11.43% of the stock is owned by insiders.

About Inchcape

Inchcape plc operates as an automotive distributor and retailer. It engages in the distribution, sales, and marketing of new and used cars, and parts. The company also provides aftersales service and body shop repairs; and finance and insurance products and services. It operates in the Asia Pacific, the United Kingdom, rest of Europe, the Americas, and Africa.