Inchcape (LON:INCH) Stock Rating Reaffirmed by Berenberg Bank

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

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

Inchcape Stock Performance

Shares of Inchcape stock opened at GBX 726 ($9.04) on Tuesday. The firm’s fifty day simple moving average is GBX 684.15 and its 200-day simple moving average is GBX 683.47. 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 stock has a market capitalization 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 company has a debt-to-equity ratio of 106.79, a current ratio of 1.06 and a quick ratio of 0.51.

Inchcape Increases Dividend

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

Insider Buying and Selling

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

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.