Inchcape (LON:INCH) Shares Down 13.7% – Here’s Why

Inchcape plc (LON:INCH)’s share price dropped 13.7% during trading on Thursday . The stock traded as low as GBX 647 ($7.97) and last traded at GBX 649 ($7.99). Approximately 5,527,542 shares traded hands during trading, an increase of 75% from the average daily volume of 3,154,223 shares. The stock had previously closed at GBX 752 ($9.26).

Wall Street Analyst Weigh In

A number of brokerages have issued reports on INCH. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 1,120 ($13.79) target price on shares of Inchcape in a research report on Friday, October 25th. Citigroup reaffirmed a “buy” rating on shares of Inchcape in a research report on Tuesday, January 7th.

Inchcape Stock 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 firm has a market capitalization of £2.62 billion, a price-to-earnings ratio of 968.66, a price-to-earnings-growth ratio of 2.06 and a beta of 1.19. The company has a 50-day moving average of GBX 762.98 and a 200-day moving average of GBX 788.03.

Insider Buying and Selling

In related news, insider Byron Elmer Grote acquired 4,000 shares of the stock in a transaction that occurred 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). 14.84% of the stock is owned by company insiders.

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.