HSBC Reiterates “Buy” Rating for Inchcape (LON:INCH)

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Inchcape (LON:INCH)‘s stock had its “buy” rating reissued by analysts at HSBC in a research note issued to investors on Thursday, ThisIsMoney.Co.Uk reports.

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reduced their price objective on shares of Inchcape from GBX 630 ($8.23) to GBX 590 ($7.71) and set a “neutral” rating on the stock in a research note on Friday, November 8th. Barclays upped their target price on shares of Inchcape from GBX 700 ($9.15) to GBX 855 ($11.17) and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a GBX 845 ($11.04) target price on shares of Inchcape in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Inchcape currently has an average rating of “Buy” and an average target price of GBX 706.67 ($9.23).

INCH opened at GBX 681 ($8.90) on Thursday. The firm has a 50 day simple moving average of GBX 648.66 and a 200 day simple moving average of GBX 614.51. Inchcape has a fifty-two week low of GBX 516 ($6.74) and a fifty-two week high of GBX 681 ($8.90). The company has a market cap of $2.73 billion and a price-to-earnings ratio of 52.79. The company has a debt-to-equity ratio of 182.40, a current ratio of 1.13 and a quick ratio of 0.41.

In related news, insider Till Vestring bought 445 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was bought at an average cost of GBX 656 ($8.57) per share, for a total transaction of £2,919.20 ($3,814.45).

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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