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

Berenberg Bank reiterated their buy rating on shares of Inchcape (LON:INCH) in a research note issued to investors on Tuesday morning, Marketbeat reports. Berenberg Bank currently has a GBX 1,040 ($12.95) price target on the stock.

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

Inchcape Price Performance

Shares of INCH stock opened at GBX 726 ($9.04) on Tuesday. The company has a quick ratio of 0.51, a current ratio of 1.06 and a debt-to-equity ratio of 106.79. Inchcape has a 12 month low of GBX 597.50 ($7.44) and a 12 month high of GBX 1,086.62 ($13.53). The firm has a market cap of £3.00 billion, a price-to-earnings ratio of 1,116.92, a PEG ratio of 2.06 and a beta of 1.22. The stock has a 50-day moving average price of GBX 684.15 and a 200 day moving average price of GBX 683.47.

Inchcape Increases Dividend

The company also recently declared a dividend, which will be paid on Monday, June 17th. Shareholders of record on Thursday, May 2nd will be paid a GBX 24.30 ($0.30) dividend. 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 (DPR) is currently 5,230.77%.

Insider Transactions at Inchcape

In other Inchcape news, insider Byron Elmer Grote purchased 7,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was bought at an average cost of GBX 637 ($7.93) per share, with a total value of £44,590 ($55,508.53). In related news, insider Duncan Tait acquired 9,590 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was bought at an average price of GBX 622 ($7.74) per share, for a total transaction of £59,649.80 ($74,255.94). Also, insider Byron Elmer Grote bought 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). 11.43% of the stock is owned by insiders.

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.