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

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

Wall Street Analyst Weigh In

INCH has been the topic of a number of recent analyst reports. Berenberg Bank restated a “buy” rating and issued a GBX 1,120 ($13.83) price target on shares of Inchcape in a report on Friday, October 25th. Citigroup reaffirmed a “buy” rating on shares of Inchcape in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. downgraded shares of Inchcape to a “neutral” rating in a report on Thursday.

Inchcape Stock Performance

The stock has a market capitalization of £2.63 billion, a price-to-earnings ratio of 973.13, a P/E/G ratio of 2.06 and a beta of 1.19. The company has a current ratio of 1.10, a quick ratio of 0.51 and a debt-to-equity ratio of 198.14. The firm has a 50-day moving average of GBX 762.98 and a 200-day moving average of GBX 788.03.

Insider Buying and Selling at Inchcape

In other Inchcape news, insider Byron Elmer Grote bought 4,000 shares of Inchcape stock in a transaction that occurred on Tuesday, October 29th. The stock was purchased at an average price of GBX 730 ($9.02) per share, with a total value of £29,200 ($36,067.19). Company insiders own 14.84% of the company’s stock.

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.