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

Inchcape plc (LON:INCH)’s stock price fell 13.3% on Thursday . The stock traded as low as GBX 624.50 ($7.80) and last traded at GBX 652 ($8.14). 12,121,266 shares traded hands during trading, an increase of 240% from the average session volume of 3,566,330 shares. The stock had previously closed at GBX 752 ($9.39).

Wall Street Analyst Weigh In

Several brokerages have weighed in on INCH. Citigroup reissued a “buy” rating on shares of Inchcape in a report on Tuesday, January 7th. Berenberg Bank restated a “buy” rating and set a GBX 1,120 ($13.98) target price on shares of Inchcape in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. lowered Inchcape to a “neutral” rating in a research report on Thursday.

Inchcape Price Performance

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 company has a 50-day moving average of GBX 759.18 and a 200-day moving average of GBX 786.40. The firm has a market capitalization of £2.63 billion, a price-to-earnings ratio of 972.09, a price-to-earnings-growth ratio of 2.06 and a beta of 1.19.

Insider Activity at Inchcape

In other news, insider Byron Elmer Grote purchased 4,000 shares of Inchcape stock in a transaction on Tuesday, October 29th. The stock was purchased at an average price of GBX 730 ($9.11) per share, with a total value of £29,200 ($36,458.98). 14.84% of the stock is owned by 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.