Inchcape (LON:INCH) Trading Down 13.3% – Time to Sell?

Shares of Inchcape plc (LON:INCH) dropped 13.3% during trading on Thursday . The stock traded as low as GBX 624.50 ($7.69) and last traded at GBX 652 ($8.03). Approximately 12,121,266 shares were traded 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).

Analysts Set New Price Targets

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

Inchcape Stock Performance

The stock 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 debt-to-equity ratio of 198.14, a current ratio of 1.10 and a quick ratio of 0.51. The stock has a 50-day moving average of GBX 762.98 and a 200 day moving average of GBX 788.03.

Insider Transactions at Inchcape

In related news, insider Byron Elmer Grote purchased 4,000 shares of Inchcape stock in a transaction dated Tuesday, October 29th. The shares were acquired at an average cost of GBX 730 ($8.99) per share, for a total transaction of £29,200 ($35,947.31). 14.84% of the stock is owned by corporate insiders.

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.