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

Inchcape (LON:INCH)‘s stock had its “buy” rating reissued by investment analysts at Berenberg Bank in a research note issued to investors on Friday, Digital Look reports. They currently have a GBX 1,120 ($14.54) price objective on the stock. Berenberg Bank’s price target indicates a potential upside of 51.76% from the stock’s previous close.

Inchcape Stock Performance

LON:INCH traded up GBX 7.19 ($0.09) during trading hours on Friday, reaching GBX 738 ($9.58). 1,838,645 shares of the company’s stock were exchanged, compared to its average volume of 1,194,882. The firm has a market capitalization of £2.98 billion, a price-to-earnings ratio of 1,101.49, a P/E/G ratio of 2.06 and a beta of 1.19. The company has a 50-day moving average of GBX 804.08 and a 200 day moving average of GBX 794.73. The company has a quick ratio of 0.51, a current ratio of 1.10 and a debt-to-equity ratio of 198.14. Inchcape has a 1-year low of GBX 597.50 ($7.76) and a 1-year high of GBX 874 ($11.35).

Insider Transactions at Inchcape

In other news, insider Byron Elmer Grote bought 6,000 shares of Inchcape stock in a transaction dated Friday, October 25th. The stock was bought at an average price of GBX 725 ($9.41) per share, for a total transaction of £43,500 ($56,478.84). In other Inchcape news, insider Duncan Tait sold 155,811 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were 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 bought 6,000 shares of the company’s stock in a transaction on Friday, October 25th. The shares were acquired at an average price of GBX 725 ($9.41) per share, with a total value of £43,500 ($56,478.84). Company insiders own 14.84% of the company’s stock.

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.