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

Inchcape (LON:INCH)‘s stock had its “buy” rating reaffirmed by analysts at Berenberg Bank in a report issued on Friday, Digital Look reports. They currently have a GBX 1,120 ($14.54) price target on the stock. Berenberg Bank’s target price would suggest a potential upside of 51.97% from the stock’s current price.

Inchcape Price Performance

INCH stock traded up GBX 6.19 ($0.08) on Friday, reaching GBX 737 ($9.57). The company had a trading volume of 1,883,762 shares, compared to its average volume of 1,195,097. The company’s fifty day moving average is GBX 804.08 and its 200 day moving average is GBX 794.73. The company has a market cap of £2.97 billion, a P/E ratio of 1,101.49, a PEG ratio of 2.06 and a beta of 1.19. 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).

Insider Activity at Inchcape

In other news, insider Byron Elmer Grote purchased 6,000 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were bought at an average cost of GBX 725 ($9.41) per share, with a total value of £43,500 ($56,478.84). In related news, 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). Also, insider Byron Elmer Grote purchased 6,000 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was acquired at an average cost of GBX 725 ($9.41) per share, for a total transaction of £43,500 ($56,478.84). 14.84% 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, as well as product planning, logistics, brand and marketing, channel management, and retail services.