Raymond James Cuts Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) Price Target to $29.00

Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) had its price objective dropped by research analysts at Raymond James from $30.00 to $29.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “strong-buy” rating on the stock. Raymond James’ price objective points to a potential upside of 95.55% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. Capital One Financial began coverage on shares of Market Vectors Indian Rupee/USD ETN in a report on Wednesday, February 26th. They issued an “overweight” rating for the company. Truist Financial initiated coverage on shares of Market Vectors Indian Rupee/USD ETN in a report on Friday, February 28th. They set a “buy” rating and a $26.00 target price for the company. Bank of America initiated coverage on Market Vectors Indian Rupee/USD ETN in a report on Tuesday, February 25th. They issued a “buy” rating and a $30.00 price target on the stock. Citigroup reduced their price objective on Market Vectors Indian Rupee/USD ETN from $27.00 to $23.00 and set a “buy” rating for the company in a research note on Friday. Finally, Royal Bank of Canada began coverage on Market Vectors Indian Rupee/USD ETN in a research report on Tuesday, February 25th. They issued an “outperform” rating and a $30.00 price target for the company. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Market Vectors Indian Rupee/USD ETN presently has a consensus rating of “Buy” and a consensus price target of $27.71.

Market Vectors Indian Rupee/USD ETN Stock Down 14.3 %

INR stock traded down $2.47 during trading on Friday, hitting $14.83. 212,939 shares of the company’s stock traded hands, compared to its average volume of 409,284. Market Vectors Indian Rupee/USD ETN has a 52 week low of $14.36 and a 52 week high of $23.00. The stock has a fifty day moving average price of $20.77 and a two-hundred day moving average price of $32.62.

Insider Activity at Market Vectors Indian Rupee/USD ETN

In related news, Director Steven D. Gray acquired 15,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were acquired at an average price of $20.00 per share, with a total value of $300,000.00. Following the acquisition, the director now owns 15,000 shares in the company, valued at approximately $300,000. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

About Market Vectors Indian Rupee/USD ETN

International Consolidated Airlines Group, SA, together with its subsidiaries, engages in the provision of passenger and cargo transportation services in the United Kingdom, Spain, Ireland, the United States, and rest of the world. The company operates under the British Airways, Iberia, Vueling, Aer Lingus, and LEVEL brands.