Inchcape plc (LON:INCH) hit a new 52-week low on Wednesday . The company traded as low as GBX 525 ($6.86) and last traded at GBX 536.50 ($7.01), with a volume of 5397463 shares changing hands. The stock had previously closed at GBX 616.50 ($8.06).
A number of brokerages have weighed in on INCH. HSBC lowered Inchcape to a “hold” rating and decreased their target price for the company from GBX 860 ($11.24) to GBX 650 ($8.49) in a research report on Wednesday. JPMorgan Chase & Co. decreased their target price on Inchcape from GBX 920 ($12.02) to GBX 915 ($11.96) and set an “overweight” rating for the company in a research report on Monday, June 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Inchcape has a consensus rating of “Hold” and a consensus price target of GBX 823.50 ($10.76).
In other news, insider Stefan Bomhard sold 88,986 shares of the business’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of GBX 700 ($9.15), for a total value of £622,902 ($813,931.79). Also, insider John Langston purchased 279 shares of Inchcape stock in a transaction dated Wednesday, August 1st. The stock was bought at an average cost of GBX 705 ($9.21) per share, with a total value of £1,966.95 ($2,570.17).
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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