Inchcape (LON:INCH) Stock Price Down 9.6% – Here’s Why

Inchcape plc (LON:INCH)’s share price dropped 9.6% during mid-day trading on Thursday . The stock traded as low as GBX 675 ($8.31) and last traded at GBX 680 ($8.37). Approximately 3,672,161 shares changed hands during mid-day trading, an increase of 21% from the average daily volume of 3,038,261 shares. The stock had previously closed at GBX 752 ($9.26).

Wall Street Analysts Forecast Growth

INCH has been the topic of several recent analyst reports. Citigroup reiterated a “buy” rating on shares of Inchcape in a report on Tuesday, January 7th. Berenberg Bank reiterated a “buy” rating and issued a GBX 1,120 ($13.79) price target on shares of Inchcape in a report on Friday, October 25th.

Inchcape Stock Down 10.9 %

The stock has a market cap of £2.70 billion, a P/E ratio of 1,000.00, a price-to-earnings-growth ratio of 2.06 and a beta of 1.19. The firm has a 50 day simple moving average of GBX 762.98 and a 200-day simple moving average of GBX 788.03. The company has a quick ratio of 0.51, a current ratio of 1.10 and a debt-to-equity ratio of 198.14.

Insider Transactions at Inchcape

In other Inchcape news, insider Byron Elmer Grote acquired 4,000 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was purchased 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 corporate 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.