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

Inchcape plc (LON:INCH)’s stock price traded down 13.3% on Thursday . The stock traded as low as GBX 624.50 ($7.80) and last traded at GBX 652 ($8.14). 12,121,266 shares changed 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 ($9.39).

Wall Street Analysts Forecast Growth

Several brokerages have commented on INCH. Citigroup reaffirmed a “buy” rating on shares of Inchcape in a report on Tuesday, January 7th. Berenberg Bank reissued a “buy” rating and issued a GBX 1,120 ($13.98) price objective on shares of Inchcape in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. cut Inchcape to a “neutral” rating in a research report on Thursday.

Inchcape Stock Performance

The company has a market cap of £2.63 billion, a PE ratio of 972.09, a PEG 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. The firm’s 50 day moving average is GBX 759.18 and its 200-day moving average is GBX 786.40.

Insider Activity at Inchcape

In other Inchcape news, insider Byron Elmer Grote bought 4,000 shares of Inchcape stock in a transaction on Tuesday, October 29th. The shares were bought at an average cost of GBX 730 ($9.11) per share, for a total transaction of £29,200 ($36,458.98). 14.84% of the stock is owned by 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.