Inchcape (LON:INCH) Price Target Cut to GBX 1,040

Inchcape (LON:INCH) had its price objective decreased by Berenberg Bank from GBX 1,085 ($13.90) to GBX 1,040 ($13.32) in a research report issued on Wednesday, Digital Look reports. The brokerage presently has a “buy” rating on the stock. Berenberg Bank’s price target points to a potential upside of 63.01% from the stock’s current price.

Inchcape Stock Performance

Shares of INCH traded down GBX 5.50 ($0.07) during trading hours on Wednesday, hitting GBX 638 ($8.17). The company had a trading volume of 1,977,880 shares, compared to its average volume of 752,444. Inchcape has a 12 month low of GBX 597.50 ($7.66) and a 12 month high of GBX 1,086.62 ($13.92). The firm has a market cap of £2.64 billion, a price-to-earnings ratio of 1,276.00, a PEG ratio of 2.06 and a beta of 1.22. The business has a fifty day moving average of GBX 674.98 and a 200-day moving average of GBX 694.46. The company has a quick ratio of 0.51, a current ratio of 1.06 and a debt-to-equity ratio of 106.79.

Insider Buying and Selling

In other Inchcape news, insider Byron Elmer Grote purchased 7,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were acquired at an average cost of GBX 637 ($8.16) per share, with a total value of £44,590 ($57,130.04). In related news, insider Duncan Tait purchased 9,590 shares of Inchcape stock in a transaction dated Tuesday, March 5th. The shares were bought at an average cost of GBX 622 ($7.97) per share, for a total transaction of £59,649.80 ($76,425.11). Also, insider Byron Elmer Grote purchased 7,000 shares of Inchcape stock in a transaction dated Tuesday, March 12th. The stock was bought at an average price of GBX 637 ($8.16) per share, for a total transaction of £44,590 ($57,130.04). 11.42% of the stock is owned by 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. It operates in the Asia Pacific, the United Kingdom, rest of Europe, the Americas, and Africa.