Inchcape plc (INCH) Receives Average Rating of “Buy” from Brokerages

Shares of Inchcape plc (LON:INCH) have been assigned a consensus rating of “Buy” from the eight research firms that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is GBX 798.71 ($10.44).

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on Inchcape from GBX 915 ($11.96) to GBX 823 ($10.75) and set an “overweight” rating for the company in a report on Friday. Barclays raised Inchcape to an “overweight” rating and set a GBX 700 ($9.15) price target for the company in a report on Wednesday, October 31st. Finally, HSBC downgraded Inchcape to a “hold” rating and cut their price target for the company from GBX 860 ($11.24) to GBX 650 ($8.49) in a report on Wednesday, October 17th.

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

Shares of Inchcape stock opened at GBX 585 ($7.64) on Friday. Inchcape has a 1 year low of GBX 660.50 ($8.63) and a 1 year high of GBX 885 ($11.56).

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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