Inchcape (LON:INCH) Trading Down 13.3% – What’s Next?

Inchcape plc (LON:INCH)’s stock price dropped 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). Approximately 12,121,266 shares traded 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 ($9.39).

Analysts Set New Price Targets

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

Inchcape Stock Performance

The company has a market cap of £2.63 billion, a PE ratio of 972.09, a PEG ratio of 2.06 and a beta of 1.19. The stock has a 50 day simple moving average of GBX 759.18 and a two-hundred day simple moving average of GBX 786.40. 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 other news, insider Byron Elmer Grote acquired 4,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were bought at an average cost of GBX 730 ($9.11) per share, with a total value of £29,200 ($36,458.98). 14.84% of the stock is currently owned by company insiders.

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.