Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) Now Covered by Royal Bank of Canada

Royal Bank of Canada began coverage on shares of Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) in a report issued on Tuesday morning, MarketBeat.com reports. The firm issued an outperform rating and a $30.00 price objective on the stock.

Separately, Bank of America began 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 target on the stock. Five equities research 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, Market Vectors Indian Rupee/USD ETN has an average rating of “Buy” and a consensus target price of $28.83.

Market Vectors Indian Rupee/USD ETN Trading Down 1.2 %

Shares of NYSEARCA:INR opened at $18.90 on Tuesday. The stock has a 50 day moving average of $32.41 and a 200 day moving average of $36.68. Market Vectors Indian Rupee/USD ETN has a 12-month low of $18.47 and a 12-month high of $23.00.

Insider Buying and Selling

In related news, Director Steven D. Gray bought 15,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was purchased at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $300,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available 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.