Stephens Initiates Coverage on Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR)

Research analysts at Stephens began coverage on shares of Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) in a report released on Tuesday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $30.00 price target on the stock. Stephens’ target price suggests a potential upside of 56.82% from the stock’s previous close.

A number of other brokerages have also issued reports on INR. Bank of America assumed coverage on shares of Market Vectors Indian Rupee/USD ETN in a research note on Tuesday. They set a “buy” rating and a $30.00 price target on the stock. Royal Bank of Canada began coverage on Market Vectors Indian Rupee/USD ETN in a research report on Tuesday. They issued an “outperform” rating and a $30.00 target price on the stock. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $29.20.

Market Vectors Indian Rupee/USD ETN Trading Down 2.8 %

Shares of INR opened at $19.13 on Tuesday. Market Vectors Indian Rupee/USD ETN has a 12 month low of $18.47 and a 12 month high of $23.00. The stock has a fifty day moving average price of $32.81 and a 200-day moving average price of $36.82.

Insider Buying and Selling at Market Vectors Indian Rupee/USD ETN

In other news, Director Steven D. Gray purchased 15,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were purchased at an average cost of $20.00 per share, with a total value of $300,000.00. Following the completion of the acquisition, the director now owns 15,000 shares of the company’s stock, valued at approximately $300,000. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

About Market Vectors Indian Rupee/USD ETN

International Consolidated Airlines Group, SA, together with its subsidiaries, engages in the provision of passenger and cargo transportation services in the United Kingdom, Spain, Ireland, the United States, and rest of the world. The company operates under the British Airways, Iberia, Vueling, Aer Lingus, and LEVEL brands.