Inchcape’s (INCH) “Buy” Rating Reaffirmed at Berenberg Bank

Berenberg Bank reissued their buy rating on shares of Inchcape (LON:INCH) in a research report report published on Thursday, MarketBeat reports. Berenberg Bank currently has a GBX 1,040 ($12.85) target price on the stock.

Separately, JPMorgan Chase & Co. reiterated an overweight rating and issued a GBX 1,050 ($12.97) price objective on shares of Inchcape in a research note on Thursday, April 4th.

Inchcape Stock Performance

LON INCH opened at GBX 788.01 ($9.73) on Thursday. The company has a market cap of £3.25 billion, a P/E ratio of 1,222.31, a P/E/G ratio of 2.06 and a beta of 1.22. Inchcape has a 1-year low of GBX 597.50 ($7.38) and a 1-year high of GBX 1,086.62 ($13.42). The company has a debt-to-equity ratio of 106.79, a current ratio of 1.06 and a quick ratio of 0.51. The stock has a 50-day moving average of GBX 693.94 and a two-hundred day moving average of GBX 683.96.

Inchcape Increases Dividend

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

Insider Buying and Selling at Inchcape

In other Inchcape news, insider Duncan Tait purchased 9,590 shares of Inchcape stock in a transaction dated Tuesday, March 5th. The stock was acquired at an average cost of GBX 622 ($7.68) per share, with a total value of £59,649.80 ($73,678.11). In other news, insider Byron Elmer Grote acquired 7,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was acquired at an average price of GBX 637 ($7.87) per share, with a total value of £44,590 ($55,076.58). Also, insider Duncan Tait purchased 9,590 shares of Inchcape stock in a transaction on Tuesday, March 5th. The shares were acquired at an average cost of GBX 622 ($7.68) per share, for a total transaction of £59,649.80 ($73,678.11). Company 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.