Inchcape (LON:INCH) Trading Down 13.3% – Here’s What Happened

Inchcape plc (LON:INCH)’s stock price fell 13.3% during mid-day trading on Thursday . The company traded as low as GBX 624.50 ($7.71) and last traded at GBX 652 ($8.05). 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 ($9.29).

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered Inchcape to a “neutral” rating in a research note on Thursday. Berenberg Bank reiterated a “buy” rating and issued a GBX 1,120 ($13.83) target price on shares of Inchcape in a research report on Friday, October 25th. Finally, Citigroup reissued a “buy” rating on shares of Inchcape in a report on Tuesday, January 7th.

Inchcape Stock Performance

The company has a market cap of £2.63 billion, a price-to-earnings ratio of 973.13, a P/E/G ratio of 2.06 and a beta of 1.19. The company has a debt-to-equity ratio of 198.14, a quick ratio of 0.51 and a current ratio of 1.10. The company has a fifty day moving average of GBX 762.98 and a two-hundred day moving average of GBX 788.03.

Insider Activity

In other Inchcape news, insider Byron Elmer Grote purchased 4,000 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was purchased at an average price of GBX 730 ($9.02) per share, with a total value of £29,200 ($36,067.19). 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.