Barclays Upgrades Inchcape (INCH) to Overweight

Inchcape (LON:INCH) was upgraded by equities researchers at Barclays to an “overweight” rating in a note issued to investors on Wednesday. The firm presently has a GBX 700 ($9.15) price objective on the stock. Barclays’ price objective points to a potential upside of 17.94% from the stock’s current price.

Separately, HSBC reiterated a “buy” rating on shares of Inchcape in a report on Monday, July 9th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of GBX 823.50 ($10.76).

Shares of INCH stock traded up GBX 27 ($0.35) during midday trading on Wednesday, reaching GBX 593.50 ($7.76). 470,912 shares of the stock were exchanged, compared to its average volume of 1,390,000. Inchcape has a 1 year low of GBX 660.50 ($8.63) and a 1 year high of GBX 885 ($11.56).

In other news, insider Stefan Bomhard sold 88,986 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of GBX 700 ($9.15), for a total value of £622,902 ($813,931.79).

About Inchcape

Inchcape plc operates as an automotive distributor and retailer in the premium and luxury automotive sectors. The company sells and retails new and used cars of various brands. It also provides after sales servicing and parts; and vehicle finance and insurance products and services. The company operates in Asia, Australasia, the United Kingdom, Europe, Africa, South America, and Russia.

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Analyst Recommendations for Inchcape (LON:INCH)

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