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

Inchcape plc (LON:INCH)’s stock price was down 13.3% during mid-day trading on Thursday . The company traded as low as GBX 624.50 ($7.80) and last traded at GBX 652 ($8.14). Approximately 12,121,266 shares changed hands during mid-day trading, an increase of 240% from the average daily volume of 3,566,330 shares. The stock had previously closed at GBX 752 ($9.39).

Wall Street Analyst Weigh In

INCH has been the subject of several recent research reports. Citigroup reissued a “buy” rating on shares of Inchcape in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lowered shares of Inchcape to a “neutral” rating in a research report on Thursday. Finally, Berenberg Bank reaffirmed 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.

Inchcape Price Performance

The stock has a fifty day simple moving average of GBX 759.18 and a 200-day simple moving average of GBX 786.40. The company has a market capitalization of £2.63 billion, a price-to-earnings ratio of 972.09, 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 current ratio of 1.10 and a quick ratio of 0.51.

Insider Buying and Selling at Inchcape

In other Inchcape news, insider Byron Elmer Grote bought 4,000 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were purchased at an average price 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 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.