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

Inchcape plc (LON:INCH)’s stock price was down 13.3% on Thursday . The company traded as low as GBX 624.50 ($7.69) and last traded at GBX 652 ($8.03). Approximately 12,121,266 shares traded hands during trading, an increase of 240% from the average daily volume of 3,566,330 shares. The stock had previously closed at GBX 752 ($9.26).

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Berenberg Bank reissued a “buy” rating and set a GBX 1,120 ($13.79) price target on shares of Inchcape in a research report on Friday, October 25th. JPMorgan Chase & Co. downgraded shares of Inchcape to a “neutral” rating in a report on Thursday. Finally, Citigroup restated a “buy” rating on shares of Inchcape in a research report on Tuesday, January 7th.

Inchcape Stock Performance

The firm has a market cap of £2.63 billion, a PE ratio of 973.13, a price-to-earnings-growth ratio of 2.06 and a beta of 1.19. The business has a 50 day simple moving average of GBX 762.98 and a two-hundred 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 Buying and Selling at Inchcape

In other news, insider Byron Elmer Grote purchased 6,000 shares of the stock in a transaction on Friday, October 25th. The stock was bought at an average price of GBX 725 ($8.93) per share, with a total value of £43,500 ($53,551.64). Insiders own 14.84% of the company’s stock.

About Inchcape

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.