Inchcape (LON:INCH) Trading Down 9.6% – Here’s What Happened

Inchcape plc (LON:INCH) traded down 9.6% during trading on Thursday . The company traded as low as GBX 675 ($8.43) and last traded at GBX 680 ($8.49). 3,672,161 shares changed hands during mid-day trading, an increase of 21% from the average session volume of 3,038,261 shares. The stock had previously closed at GBX 752 ($9.39).

Analyst Ratings Changes

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

Inchcape Stock Down 0.1 %

The company has a current ratio of 1.10, a quick ratio of 0.51 and a debt-to-equity ratio of 198.14. The firm’s 50 day moving average price is GBX 759.18 and its two-hundred day moving average price is GBX 786.40. The company has a market capitalization of £2.63 billion, a price-to-earnings ratio of 972.09, a price-to-earnings-growth ratio of 2.06 and a beta of 1.19.

Insider Buying and Selling

In other Inchcape news, insider Byron Elmer Grote purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were acquired 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 currently owned by corporate insiders.

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.