Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) Coverage Initiated at Royal Bank of Canada

Investment analysts at Royal Bank of Canada assumed coverage on shares of Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) in a research note issued on Tuesday, MarketBeat reports. The brokerage set an “outperform” rating and a $30.00 price target on the stock. Royal Bank of Canada’s price target points to a potential upside of 60.00% from the company’s previous close.

Separately, Bank of America initiated coverage on shares of Market Vectors Indian Rupee/USD ETN in a report on Tuesday. They set a “buy” rating and a $30.00 price objective for the company. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $28.83.

Market Vectors Indian Rupee/USD ETN Stock Down 0.8 %

Shares of Market Vectors Indian Rupee/USD ETN stock opened at $18.75 on Tuesday. Market Vectors Indian Rupee/USD ETN has a 12-month low of $18.09 and a 12-month high of $23.00. The stock has a 50 day moving average price of $32.00 and a two-hundred day moving average price of $36.54.

Insiders Place Their Bets

In related news, Director Steven D. Gray acquired 15,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were acquired at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the completion of the purchase, the director now owns 15,000 shares in the company, valued at approximately $300,000. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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.