Inchcape (LON:INCH) Stock Price Down 13.7% – Here’s What Happened

Shares of Inchcape plc (LON:INCH) traded down 13.7% during trading on Thursday . The company traded as low as GBX 647 ($7.97) and last traded at GBX 649 ($7.99). 5,527,542 shares changed hands during mid-day trading, an increase of 75% from the average session volume of 3,154,223 shares. The stock had previously closed at GBX 752 ($9.26).

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on INCH. Berenberg Bank reiterated a “buy” rating and set a GBX 1,120 ($13.79) price objective on shares of Inchcape in a research note on Friday, October 25th. Citigroup reissued a “buy” rating on shares of Inchcape in a research note on Tuesday, January 7th.

Inchcape Stock Performance

The stock has a market cap of £2.63 billion, a price-to-earnings ratio of 971.64, a P/E/G ratio of 2.06 and a beta of 1.19. The company has a quick ratio of 0.51, a current ratio of 1.10 and a debt-to-equity ratio of 198.14. The company has a 50 day simple moving average of GBX 762.98 and a 200 day simple moving average of GBX 788.03.

Insider Activity at Inchcape

In other news, insider Byron Elmer Grote acquired 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were bought at an average price of GBX 730 ($8.99) per share, with a total value of £29,200 ($35,947.31). 14.84% of the stock is currently 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.