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

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

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

Inchcape Stock Up 1.1 %

Shares of LON:INCH opened at GBX 794.50 ($9.81) on Thursday. 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 stock has a 50-day simple moving average of GBX 693.94 and a 200-day simple moving average of GBX 684.53. 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 stock has a market capitalization of £3.28 billion, a P/E ratio of 1,222.31, a PEG ratio of 2.06 and a beta of 1.22.

Inchcape Increases Dividend

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

Insiders Place Their Bets

In other Inchcape news, insider Duncan Tait bought 9,590 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were purchased at an average price of GBX 622 ($7.68) per share, with a total value of £59,649.80 ($73,678.11). In other news, insider Duncan Tait purchased 9,590 shares of Inchcape stock in a transaction dated Tuesday, March 5th. The stock was bought at an average price of GBX 622 ($7.68) per share, with a total value of £59,649.80 ($73,678.11). Also, insider Byron Elmer Grote acquired 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was purchased at an average price of GBX 637 ($7.87) per share, for a total transaction of £44,590 ($55,076.58). 11.43% of the stock is owned by corporate 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.