Jefferies Financial Group Begins Coverage on Inchcape (LON:INCH)

Jefferies Financial Group started coverage on shares of Inchcape (LON:INCH) in a report issued on Tuesday, April 30th, ThisIsMoney.Co.Uk reports. The firm issued a buy rating and a GBX 845 ($11.04) price target on the stock.

Several other research analysts also recently issued reports on INCH. Berenberg Bank reiterated a hold rating and issued a GBX 600 ($7.84) target price on shares of Inchcape in a research note on Monday, March 4th. HSBC raised shares of Inchcape to a buy rating and boosted their price objective for the company from GBX 650 ($8.49) to GBX 690 ($9.02) in a report on Thursday, January 10th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Inchcape from GBX 823 ($10.75) to GBX 803 ($10.49) and set an overweight rating for the company in a report on Friday, March 1st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of Buy and an average target price of GBX 763.50 ($9.98).

LON:INCH traded down GBX 1.50 ($0.02) during mid-day trading on Tuesday, hitting GBX 566.50 ($7.40). 774,541 shares of the company’s stock were exchanged, compared to its average volume of 1,390,000. The firm has a market capitalization of $2.35 billion and a P/E ratio of 49.26. Inchcape has a one year low of GBX 482.20 ($6.30) and a one year high of GBX 826 ($10.79). The company has a debt-to-equity ratio of 158.95, a current ratio of 1.07 and a quick ratio of 0.36.

The business also recently announced a dividend, which will be paid on Friday, June 21st. Investors of record on Thursday, May 16th will be given a dividend of GBX 17.90 ($0.23) per share. This is a positive change from Inchcape’s previous dividend of $8.90. The ex-dividend date of this dividend is Thursday, May 16th. This represents a dividend yield of 3.14%. Inchcape’s dividend payout ratio is currently 2.35%.

In other Inchcape news, insider Richard Howes sold 52,193 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of GBX 616 ($8.05), for a total transaction of £321,508.88 ($420,108.30). Also, insider Stefan Bomhard sold 35,758 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of GBX 590 ($7.71), for a total transaction of £210,972.20 ($275,672.55).

Inchcape Company Profile

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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