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

Stephens initiated coverage on shares of Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) in a research note released on Tuesday, MarketBeat.com reports. The brokerage issued an overweight rating and a $30.00 target price on the stock.

INR has been the topic of a number of other reports. Royal Bank of Canada initiated coverage on Market Vectors Indian Rupee/USD ETN in a research note on Tuesday. They issued an “outperform” rating and a $30.00 price target on the stock. Bank of America began coverage on shares of Market Vectors Indian Rupee/USD ETN in a research report on Tuesday. They set a “buy” rating and a $30.00 target price on the stock. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $28.83.

Market Vectors Indian Rupee/USD ETN Stock Down 1.2 %

Shares of INR opened at $18.90 on Tuesday. The stock’s 50 day moving average is $32.41 and its two-hundred day moving average is $36.68. Market Vectors Indian Rupee/USD ETN has a twelve month low of $18.47 and a twelve month high of $23.00.

Insider Buying and Selling

In other Market Vectors Indian Rupee/USD ETN news, Director Steven D. Gray acquired 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 purchase, the director now owns 15,000 shares in the company, valued at approximately $300,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

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.