Brokerages Set Inchcape plc (INCH) Price Target at $739.60
Inchcape plc (LON:INCH) has been given a consensus rating of “Buy” by the six brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is GBX 739.60 ($9.66).
Several equities research analysts recently issued reports on the company. HSBC upgraded Inchcape to a “buy” rating and lifted their price objective for the stock from GBX 650 ($8.49) to GBX 690 ($9.02) in a report on Thursday, January 10th. Berenberg Bank reiterated a “hold” rating and issued a GBX 600 ($7.84) price objective on shares of Inchcape in a report on Monday, March 4th. Finally, JPMorgan Chase & Co. lowered their price objective on Inchcape from GBX 823 ($10.75) to GBX 803 ($10.49) and set an “overweight” rating on the stock in a report on Friday, March 1st.
In other news, insider Coline McConville bought 337 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average price of GBX 599 ($7.83) per share, for a total transaction of £2,018.63 ($2,637.70). Also, insider Stefan Bomhard sold 35,758 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of GBX 590 ($7.71), for a total transaction of £210,972.20 ($275,672.55).
The firm also recently declared a dividend, which will be paid on Friday, June 21st. Shareholders of record on Thursday, May 16th will be paid a GBX 17.90 ($0.23) dividend. This is an increase from Inchcape’s previous dividend of $8.90. The ex-dividend date of this dividend is Thursday, May 16th. This represents a dividend yield of 3.14%. Inchcape’s payout ratio is 2.35%.
Inchcape Company Profile
Inchcape plc operates as an automotive distributor and retailer in the premium and luxury automotive sectors. The company sells and retails new and used cars of various brands. It also provides after sales servicing and parts; and vehicle finance and insurance products and services. The company operates in Asia, Australasia, the United Kingdom, Europe, Africa, South America, and Russia.
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