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

Shares of Inchcape plc (LON:INCH) fell 13.3% during mid-day trading 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).

Analyst Upgrades and Downgrades

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

Inchcape Price Performance

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’s 50-day simple moving average is GBX 759.18 and its two-hundred day simple moving average is GBX 786.40. The firm has a market cap of £2.63 billion, a P/E ratio of 972.09, a PEG ratio of 2.06 and a beta of 1.19.

Insider Buying and Selling at Inchcape

In other news, insider Byron Elmer Grote bought 4,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was acquired at an average cost of GBX 730 ($9.11) per share, with a total value of £29,200 ($36,458.98). Company 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.