Berenberg Bank Reiterates Buy Rating for Inchcape (LON:INCH)

Berenberg Bank reiterated their buy rating on shares of Inchcape (LON:INCH) in a report published on Tuesday, Marketbeat reports. Berenberg Bank currently has a GBX 1,040 ($12.95) price objective on the stock.

Separately, JPMorgan Chase & Co. reaffirmed an overweight rating and issued a GBX 1,050 ($13.07) price target on shares of Inchcape in a research report on Thursday, April 4th.

Inchcape Price Performance

Shares of LON INCH opened at GBX 732.50 ($9.12) on Tuesday. Inchcape has a fifty-two week low of GBX 597.50 ($7.44) and a fifty-two week high of GBX 1,086.62 ($13.53). The stock has a market cap of £3.03 billion, a price-to-earnings ratio of 1,126.92, a PEG ratio of 2.06 and a beta of 1.22. The company has a debt-to-equity ratio of 106.79, a quick ratio of 0.51 and a current ratio of 1.06. The firm’s 50-day simple moving average is GBX 683.12 and its 200 day simple moving average is GBX 683.59.

Inchcape Increases Dividend

The company also recently announced a dividend, which will be paid on Monday, June 17th. Shareholders of record on Thursday, May 2nd will be given a dividend of GBX 24.30 ($0.30) per share. The ex-dividend date is Thursday, May 2nd. This represents a dividend yield of 3.57%. This is a boost from Inchcape’s previous dividend of $9.60. Inchcape’s dividend payout ratio (DPR) is currently 5,230.77%.

Insiders Place Their Bets

In related news, insider Byron Elmer Grote purchased 7,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were bought at an average price of GBX 637 ($7.93) per share, with a total value of £44,590 ($55,508.53). In related news, insider Duncan Tait purchased 9,590 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were bought at an average price of GBX 622 ($7.74) per share, with a total value of £59,649.80 ($74,255.94). Also, insider Byron Elmer Grote purchased 7,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was bought at an average cost of GBX 637 ($7.93) per share, for a total transaction of £44,590 ($55,508.53). Insiders own 11.43% of the company’s stock.

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.