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

Inchcape plc (LON:INCH)’s stock price dropped 13.3% on Thursday . The company traded as low as GBX 624.50 ($7.71) and last traded at GBX 652 ($8.05). Approximately 12,121,266 shares were traded 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).

Analyst Ratings Changes

A number of research firms have commented on INCH. Berenberg Bank reissued a “buy” rating and set a GBX 1,120 ($13.83) target price on shares of Inchcape in a research report on Friday, October 25th. JPMorgan Chase & Co. lowered Inchcape to a “neutral” rating in a report on Thursday. Finally, Citigroup reiterated a “buy” rating on shares of Inchcape in a report on Tuesday, January 7th.

Inchcape Price Performance

The company has a market cap of £2.63 billion, a PE ratio of 973.13, a PEG ratio of 2.06 and a beta of 1.19. The company has a debt-to-equity ratio of 198.14, a current ratio of 1.10 and a quick ratio of 0.51. The stock’s 50-day moving average is GBX 761.12 and its 200 day moving average is GBX 787.37.

Insider Buying and Selling

In related news, insider Byron Elmer Grote purchased 6,000 shares of the business’s stock in a transaction on Friday, October 25th. The shares were 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.