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

Inchcape plc (LON:INCH) shares dropped 13.3% on Thursday . The stock traded as low as GBX 624.50 ($7.80) and last traded at GBX 652 ($8.14). Approximately 12,121,266 shares traded hands during mid-day trading, an increase of 240% from the average daily volume of 3,566,330 shares. The stock had previously closed at GBX 752 ($9.39).

Analysts Set New Price Targets

INCH has been the topic of a number of recent analyst reports. Citigroup reissued a “buy” rating on shares of Inchcape in a research report on Tuesday, January 7th. JPMorgan Chase & Co. downgraded shares of Inchcape to a “neutral” rating in a report on Thursday. Finally, Berenberg Bank reissued a “buy” rating and set a GBX 1,120 ($13.98) target price on shares of Inchcape in a research report on Friday, October 25th.

Inchcape Stock Down 0.1 %

The firm has a 50-day moving average price of GBX 759.18 and a two-hundred day moving average price of GBX 786.40. The company has a market capitalization of £2.63 billion, a P/E ratio of 972.09, a PEG ratio of 2.06 and a beta of 1.19. The company has a quick ratio of 0.51, a current ratio of 1.10 and a debt-to-equity ratio of 198.14.

Insider Buying and Selling at Inchcape

In other news, insider Byron Elmer Grote acquired 4,000 shares of the stock in a transaction dated Tuesday, October 29th. The shares were acquired at an average cost of GBX 730 ($9.11) per share, for a total transaction of £29,200 ($36,458.98). Insiders own 14.84% of the company’s stock.

About Inchcape

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.