Berenberg Bank Boosts Inchcape (LON:INCH) Price Target to GBX 1,120

Inchcape (LON:INCH) had its price target hoisted by Berenberg Bank from GBX 1,040 ($13.29) to GBX 1,120 ($14.31) in a research report released on Thursday, Marketbeat reports. Berenberg Bank currently has a buy rating on the stock.

Separately, Deutsche Bank Aktiengesellschaft reiterated a buy rating and issued a GBX 1,100 ($14.06) price objective on shares of Inchcape in a research note on Tuesday, June 18th.

Inchcape Price Performance

LON INCH traded up GBX 10 ($0.13) on Thursday, reaching GBX 797.50 ($10.19). The company’s stock had a trading volume of 343,015 shares, compared to its average volume of 766,086. Inchcape has a 52 week low of GBX 597.50 ($7.64) and a 52 week high of GBX 874 ($11.17). The company has a current ratio of 1.06, a quick ratio of 0.51 and a debt-to-equity ratio of 222.65. The firm has a market cap of £3.29 billion, a PE ratio of 1,226.92, a price-to-earnings-growth ratio of 2.06 and a beta of 1.19. The business has a 50-day moving average price of GBX 797.59 and a 200 day moving average price of GBX 744.87.

Inchcape Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 8th will be issued a GBX 11.30 ($0.14) dividend. This represents a dividend yield of 1.34%. The ex-dividend date of this dividend is Thursday, August 8th. Inchcape’s payout ratio is 5,230.77%.

Insider Activity at Inchcape

In other news, insider Alison Platt acquired 12,143 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were purchased at an average cost of GBX 823 ($10.52) per share, with a total value of £99,936.89 ($127,714.88). In other Inchcape news, insider Alison Platt acquired 12,143 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was purchased at an average price of GBX 823 ($10.52) per share, for a total transaction of £99,936.89 ($127,714.88). Also, insider Adrian Lewis sold 14,721 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of GBX 788 ($10.07), for a total value of £116,001.48 ($148,244.70). 14.56% 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. It operates in the Asia Pacific, the United Kingdom, rest of Europe, the Americas, and Africa.