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

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

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

Inchcape Price Performance

Shares of LON:INCH opened at GBX 715.53 ($8.91) on Tuesday. The firm’s 50 day moving average is GBX 681.12 and its two-hundred day moving average is GBX 682.91. Inchcape has a 52 week low of GBX 597.50 ($7.44) and a 52 week high of GBX 1,086.62 ($13.53). The firm has a market capitalization of £2.96 billion, a P/E ratio of 1,109.23, a PEG ratio of 2.06 and a beta of 1.22. The company has a current ratio of 1.06, a quick ratio of 0.51 and a debt-to-equity ratio of 106.79.

Inchcape Increases Dividend

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

Insider Buying and Selling

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

Inchcape Company Profile

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.