Inchcape (LON:INCH) Stock Price Down 13.3% – Here’s What Happened

Inchcape plc (LON:INCH) dropped 13.3% during trading on Thursday . The stock traded as low as GBX 624.50 ($7.71) and last traded at GBX 652 ($8.05). Approximately 12,121,266 shares changed hands during mid-day trading, an increase of 240% from the average daily volume of 3,566,330 shares. The stock had previously closed at GBX 752 ($9.29).

Analysts Set New Price Targets

A number of research analysts have recently weighed in on INCH shares. JPMorgan Chase & Co. cut Inchcape to a “neutral” rating in a research report on Thursday. Berenberg Bank restated a “buy” rating and set a GBX 1,120 ($13.83) target price on shares of Inchcape in a research note on Friday, October 25th. Finally, Citigroup reaffirmed a “buy” rating on shares of Inchcape in a report on Tuesday, January 7th.

Inchcape Stock Performance

The firm has a market capitalization of £2.63 billion, a PE ratio of 973.13, a price-to-earnings-growth ratio of 2.06 and a beta of 1.19. The company has a debt-to-equity ratio of 198.14, a quick ratio of 0.51 and a current ratio of 1.10. The business’s fifty day simple moving average is GBX 761.12 and its 200-day simple moving average is GBX 787.37.

Insider Buying and Selling

In other news, insider Byron Elmer Grote purchased 6,000 shares of the business’s stock in a transaction on Friday, October 25th. The stock was acquired at an average price of GBX 725 ($8.96) per share, for a total transaction of £43,500 ($53,730.24). 14.84% of the stock is owned by company insiders.

Inchcape Company Profile

Inchcape is the leading global automotive distributor, with operations across six continents. By combining our in-market expertise with our unique technology and advanced data analytics, we create innovative customer experiences that deliver outstanding performance for our partners – building stronger automotive brands and creating sustainable growth.