Inchcape plc’s (INCH) “Buy” Rating Reiterated at HSBC Holdings plc

Inchcape plc (LON:INCH)‘s stock had its “buy” rating reaffirmed by stock analysts at HSBC Holdings plc in a note issued to investors on Friday, June 30th. They presently have a GBX 1,030 ($13.45) price target on the stock. HSBC Holdings plc’s price objective would suggest a potential upside of 31.97% from the stock’s current price.

Several other research firms have also weighed in on INCH. Deutsche Bank AG upped their target price on Inchcape plc from GBX 860 ($11.23) to GBX 920 ($12.01) and gave the company a “buy” rating in a report on Monday, May 15th. BNP Paribas raised Inchcape plc to an “outperform” rating and increased their price objective for the company from GBX 735 ($9.60) to GBX 1,050 ($13.71) in a research note on Monday, March 27th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a GBX 900 ($11.75) price objective on shares of Inchcape plc in a research note on Wednesday, March 8th. Citigroup Inc. reaffirmed a “buy” rating and set a GBX 870 ($11.36) price objective on shares of Inchcape plc in a research note on Tuesday, March 7th. Finally, Canaccord Genuity increased their price objective on Inchcape plc from GBX 695 ($9.08) to GBX 738 ($9.64) and gave the company a “hold” rating in a research note on Tuesday, March 14th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Inchcape plc presently has a consensus rating of “Buy” and an average target price of GBX 875.33 ($11.43).

Inchcape plc (LON:INCH) traded up 0.52% on Friday, hitting GBX 780.50. The stock had a trading volume of 759,517 shares. Inchcape plc has a one year low of GBX 587.00 and a one year high of GBX 861.00. The stock’s market cap is GBX 3.28 billion. The stock’s 50 day moving average is GBX 777.67 and its 200 day moving average is GBX 786.52.

WARNING: This report was first reported by Transcript Daily and is the property of of Transcript Daily. If you are viewing this report on another website, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The correct version of this report can be accessed at https://transcriptdaily.com/2017/07/22/inchcape-plcs-inch-buy-rating-reiterated-at-hsbc-holdings-plc-updated-updated.html.

In related news, insider Stefan Bomhard sold 34,579 shares of the stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of GBX 777 ($10.15), for a total transaction of £268,678.83 ($350,847.26). Also, insider Till Vestring sold 25,000 shares of the stock in a transaction dated Friday, May 26th. The stock was sold at an average price of GBX 845 ($11.03), for a total value of £211,250 ($275,855.31).

Inchcape plc Company Profile

Inchcape plc is a United Kingdom-based automotive distributor and retailer. The Company operates in approximately 30 markets. The Company’s segments include Distribution, Retail and Central. The Distribution segment includes regions, such as Australasia, the United Kingdom and Europe, Asia, and Emerging Markets.

Analyst Recommendations for Inchcape plc (LON:INCH)

Receive News & Ratings for Inchcape plc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inchcape plc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply