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

Inchcape plc (LON:INCH) shares fell 13.3% on Thursday . The company 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).

Analyst Ratings Changes

INCH has been the subject of a number of recent research reports. Citigroup restated a “buy” rating on shares of Inchcape in a research note on Tuesday, January 7th. Berenberg Bank restated a “buy” rating and issued a GBX 1,120 ($13.98) price objective on shares of Inchcape in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. cut shares of Inchcape to a “neutral” rating in a research note on Thursday.

Inchcape Stock Performance

The firm has a fifty day moving average of GBX 759.18 and a 200-day moving average of GBX 786.40. 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 firm has a market cap of £2.63 billion, a P/E ratio of 972.09, a PEG ratio of 2.06 and a beta of 1.19.

Insider Activity

In other Inchcape 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 acquired at an average cost of GBX 730 ($9.11) per share, for a total transaction of £29,200 ($36,458.98). 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.