Inchcape (LON:INCH) Shares Down 13.3% – What’s Next?

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

Wall Street Analyst Weigh In

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

Inchcape Stock Down 0.2 %

The company has a market cap of £2.62 billion, a PE ratio of 970.90, a price-to-earnings-growth ratio of 2.06 and a beta of 1.19. The business has a fifty day simple moving average of GBX 761.12 and a two-hundred day simple moving average of GBX 787.37. The company has a current ratio of 1.10, a quick ratio of 0.51 and a debt-to-equity ratio of 198.14.

Insider Transactions at Inchcape

In related news, insider Byron Elmer Grote acquired 4,000 shares of Inchcape stock in a transaction that occurred 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.

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.