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

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on INCH shares. Berenberg Bank reissued a “buy” rating and issued a GBX 1,120 ($13.79) target price on shares of Inchcape in a research report on Friday, October 25th. JPMorgan Chase & Co. cut Inchcape to a “neutral” rating in a research note on Thursday. Finally, Citigroup reiterated a “buy” rating on shares of Inchcape in a research report on Tuesday, January 7th.

Inchcape Price Performance

The company’s fifty day simple moving average is GBX 762.98 and its two-hundred day simple moving average is GBX 788.03. The stock has a market capitalization of £2.63 billion, a PE ratio of 973.13, a P/E/G ratio of 2.06 and a beta of 1.19. The company has a debt-to-equity ratio of 198.14, a quick ratio of 0.51 and a current ratio of 1.10.

Insider Transactions at Inchcape

In related news, insider Byron Elmer Grote acquired 4,000 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was bought at an average price of GBX 730 ($8.99) per share, with a total value of £29,200 ($35,947.31). Insiders own 14.84% of the company’s stock.

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.