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

Shares of Inchcape plc (LON:INCH) dropped 13.3% during trading on Thursday . The stock traded as low as GBX 624.50 ($7.69) and last traded at GBX 652 ($8.03). Approximately 12,121,266 shares changed hands during trading, an increase of 240% from the average daily volume of 3,566,330 shares. The stock had previously closed at GBX 752 ($9.26).

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on INCH shares. JPMorgan Chase & Co. lowered shares of Inchcape to a “neutral” rating in a research note on Thursday. Citigroup reaffirmed a “buy” rating on shares of Inchcape in a research note on Tuesday, January 7th. Finally, Berenberg Bank reissued a “buy” rating and issued a GBX 1,120 ($13.79) price target on shares of Inchcape in a research note on Friday, October 25th.

Inchcape Stock Performance

The stock’s 50-day moving average price is GBX 762.98 and its 200 day moving average price is GBX 788.03. The firm has a market cap of £2.63 billion, a P/E ratio of 973.13, a price-to-earnings-growth 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 related news, insider Byron Elmer Grote purchased 4,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was purchased at an average cost of GBX 730 ($8.99) per share, for a total transaction of £29,200 ($35,947.31). 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.