Inchcape (LON:INCH) Shares Down 13.3% – Should You Sell?

Inchcape plc (LON:INCH) shares fell 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). 12,121,266 shares traded 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 ($9.26).

Wall Street Analysts Forecast Growth

Several brokerages have commented on INCH. Citigroup reaffirmed a “buy” rating on shares of Inchcape in a report on Tuesday, January 7th. Berenberg Bank reissued a “buy” rating and issued a GBX 1,120 ($13.79) price objective on shares of Inchcape in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. downgraded Inchcape to a “neutral” rating in a research note on Thursday.

Inchcape Price Performance

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 business has a fifty day simple moving average of GBX 762.98 and a 200 day simple moving average of GBX 788.03. The stock has a market capitalization 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.

Insider Transactions at Inchcape

In other news, insider Byron Elmer Grote acquired 6,000 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were acquired at an average price of GBX 725 ($8.93) per share, for a total transaction of £43,500 ($53,551.64). 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.