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

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

Analysts Set New Price Targets

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

Inchcape Stock Down 0.1 %

The company has a market capitalization of £2.63 billion, a PE ratio of 972.09, a P/E/G ratio of 2.06 and a beta of 1.19. 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 has a 50 day simple moving average of GBX 759.18 and a two-hundred day simple moving average of GBX 786.40.

Insider Activity at Inchcape

In other news, insider Byron Elmer Grote acquired 4,000 shares of Inchcape stock in a transaction that occurred on Tuesday, October 29th. The stock was purchased 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 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.