Inchcape (LON:INCH) Trading Down 9.6% – What’s Next?

Shares of Inchcape plc (LON:INCH) dropped 9.6% during mid-day trading on Thursday . The company traded as low as GBX 675 ($8.31) and last traded at GBX 680 ($8.37). Approximately 3,672,161 shares were traded during trading, an increase of 21% from the average daily volume of 3,038,261 shares. The stock had previously closed at GBX 752 ($9.26).

Analysts Set New Price Targets

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

Inchcape Stock Performance

The stock’s 50 day moving average is GBX 762.98 and its two-hundred day moving average is GBX 788.03. The firm has a market capitalization of £2.70 billion, a P/E ratio of 1,000.00, 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 current ratio of 1.10 and a quick ratio of 0.51.

Insider Buying and Selling at Inchcape

In related news, insider Byron Elmer Grote bought 6,000 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was bought at an average cost of GBX 725 ($8.93) per share, for a total transaction of £43,500 ($53,551.64). Corporate 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.