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

Inchcape plc (LON:INCH) fell 13.3% on Thursday . The company traded as low as GBX 624.50 ($7.71) and last traded at GBX 652 ($8.05). 12,121,266 shares traded hands during mid-day trading, an increase of 240% from the average session volume of 3,566,330 shares. The stock had previously closed at GBX 752 ($9.29).

Wall Street Analyst Weigh In

Several analysts have issued reports on INCH shares. JPMorgan Chase & Co. lowered shares of Inchcape to a “neutral” rating in a research note on Thursday. Citigroup reaffirmed a “buy” rating on shares of Inchcape in a report on Tuesday, January 7th. Finally, Berenberg Bank reiterated a “buy” rating and issued a GBX 1,120 ($13.83) price objective on shares of Inchcape in a report on Friday, October 25th.

Inchcape Stock Performance

The company has a market capitalization of £2.63 billion, a price-to-earnings ratio of 973.13, a price-to-earnings-growth ratio of 2.06 and a beta of 1.19. The company has a current ratio of 1.10, a quick ratio of 0.51 and a debt-to-equity ratio of 198.14. The stock has a 50-day simple moving average of GBX 762.98 and a 200-day simple moving average of GBX 788.03.

Insider Buying and Selling

In other news, insider Byron Elmer Grote acquired 4,000 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were purchased at an average price of GBX 730 ($9.02) per share, for a total transaction of £29,200 ($36,067.19). 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.