Inchcape plc (INCH) Earns Buy Rating from HSBC Holdings plc

HSBC Holdings plc reaffirmed their buy rating on shares of Inchcape plc (LON:INCH) in a report issued on Wednesday. HSBC Holdings plc currently has a GBX 1,030 ($13.31) price objective on the stock.

Several other equities research analysts also recently commented on INCH. Berenberg Bank reissued a buy rating and issued a GBX 760 ($9.82) price objective on shares of Inchcape plc in a report on Thursday, February 9th. Liberum Capital increased their price objective on Inchcape plc from GBX 680 ($8.79) to GBX 755 ($9.76) and gave the company a hold rating in a report on Wednesday, March 1st. J P Morgan Chase & Co reissued an overweight rating and issued a GBX 900 ($11.63) price objective on shares of Inchcape plc in a report on Thursday, March 2nd. Citigroup Inc. reissued a buy rating and issued a GBX 870 ($11.24) price objective on shares of Inchcape plc in a report on Tuesday, March 7th. Finally, Canaccord Genuity increased their price objective on Inchcape plc from GBX 695 ($8.98) to GBX 738 ($9.54) and gave the company a hold rating in a report on Tuesday, March 14th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of Buy and a consensus price target of GBX 874.78 ($11.30).

Shares of Inchcape plc (LON INCH) opened at 790.00 on Wednesday. The firm’s market capitalization is GBX 3.32 billion. Inchcape plc has a 12-month low of GBX 574.00 and a 12-month high of GBX 861.00. The company’s 50 day moving average is GBX 837.15 and its 200 day moving average is GBX 758.41.

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In other Inchcape plc news, insider Stefan Bomhard sold 33,472 shares of the firm’s stock in a transaction on Monday, March 27th. The stock was sold at an average price of GBX 839 ($10.84), for a total transaction of £280,830.08 ($362,876.44). Also, insider Jerry Buhlmann purchased 15,000 shares of the business’s stock in a transaction on Thursday, March 16th. The shares were acquired at an average cost of GBX 803 ($10.38) per share, with a total value of £120,450 ($155,640.26).

Inchcape plc Company Profile

Inchcape plc is a United Kingdom-based automotive distributor and retailer. The Company operates in approximately 30 markets. The Company’s segments include Distribution, Retail and Central. The Distribution segment includes regions, such as Australasia, the United Kingdom and Europe, Asia, and Emerging Markets.

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