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

Berenberg Bank restated their buy rating on shares of Inchcape (LON:INCH) in a research note issued to investors on Friday, Digital Look reports. Berenberg Bank currently has a GBX 1,120 ($14.54) target price on the stock.

Inchcape Price Performance

Shares of Inchcape stock traded up GBX 9.19 ($0.12) on Friday, hitting GBX 740 ($9.61). The company’s stock had a trading volume of 1,912,341 shares, compared to its average volume of 1,195,233. The company has a debt-to-equity ratio of 198.14, a quick ratio of 0.51 and a current ratio of 1.10. Inchcape has a 1 year low of GBX 597.50 ($7.76) and a 1 year high of GBX 874 ($11.35). The firm has a fifty day moving average price of GBX 804.08 and a 200-day moving average price of GBX 794.73. The company has a market capitalization of £2.99 billion, a price-to-earnings ratio of 1,101.49, a price-to-earnings-growth ratio of 2.06 and a beta of 1.19.

Inchcape Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 8th were paid a GBX 11.30 ($0.15) dividend. The ex-dividend date was Thursday, August 8th. This represents a dividend yield of 1.34%. Inchcape’s dividend payout ratio (DPR) is 5,373.13%.

Insiders Place Their Bets

In related news, insider Byron Elmer Grote acquired 6,000 shares of the stock in a transaction dated Friday, October 25th. The stock was acquired at an average cost of GBX 725 ($9.41) per share, with a total value of £43,500 ($56,478.84). In other news, insider Byron Elmer Grote purchased 6,000 shares of the business’s stock in a transaction on Friday, October 25th. The shares were bought at an average price of GBX 725 ($9.41) per share, with a total value of £43,500 ($56,478.84). Also, insider Duncan Tait sold 155,811 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of GBX 764 ($9.92), for a total transaction of £1,190,396.04 ($1,545,567.44). 14.84% of the stock is currently 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, as well as product planning, logistics, brand and marketing, channel management, and retail services.