JPMorgan Chase & Co. reiterated their overweight rating on shares of Inchcape (LON:INCH – Free Report) in a research report released on Friday, Marketbeat.com reports. JPMorgan Chase & Co. currently has a GBX 1,300 ($16.10) price objective on the stock.
A number of other analysts have also commented on INCH. Berenberg Bank reiterated a buy rating and issued a GBX 1,085 ($13.44) price target on shares of Inchcape in a research note on Friday, July 28th. Citigroup restated a buy rating on shares of Inchcape in a research report on Wednesday, June 21st.
Inchcape Stock Down 3.5 %
Inchcape Cuts Dividend
The firm also recently disclosed a dividend, which was paid on Friday, September 1st. Shareholders of record on Thursday, August 3rd were given a dividend of GBX 9.60 ($0.12) per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a yield of 1.23%. Inchcape’s dividend payout ratio (DPR) is currently 6,078.43%.
Insider Buying and Selling at Inchcape
In other Inchcape news, insider Byron Elmer Grote acquired 4,000 shares of the stock in a transaction on Monday, August 21st. The stock was acquired at an average price of GBX 719 ($8.91) per share, for a total transaction of £28,760 ($35,624.92). In other news, insider Adrian Lewis purchased 7,043 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were acquired at an average cost of GBX 788 ($9.76) per share, for a total transaction of £55,498.84 ($68,746.24). Also, insider Byron Elmer Grote purchased 4,000 shares of the stock in a transaction dated Monday, August 21st. The stock was purchased at an average price of GBX 719 ($8.91) per share, for a total transaction of £28,760 ($35,624.92). Insiders acquired 17,043 shares of company stock worth $12,763,884 over the last 90 days. 11.42% of the stock is owned by insiders.
Inchcape Company Profile
Inchcape plc operates as an automotive distributor and retailer. It engages in the distribution, sales, and marketing of new and used cars, and parts. The company also provides aftersales service and body shop repairs; and finance and insurance products and services. It operates in the Asia Pacific, the United Kingdom, rest of Europe, the Americas, and Africa.
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