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

Inchcape plc (LON:INCH)’s share price dropped 13.7% during trading on Thursday . The company traded as low as GBX 647 ($7.97) and last traded at GBX 649 ($7.99). Approximately 5,527,542 shares changed hands during mid-day 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).

Analysts Set New Price Targets

A number of research firms recently issued reports on INCH. Citigroup reiterated a “buy” rating on shares of Inchcape in a report on Tuesday, January 7th. 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.

Inchcape Price Performance

The stock has a market cap of £2.63 billion, a price-to-earnings ratio of 971.64, a price-to-earnings-growth 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 50-day simple moving average of GBX 762.98 and a two-hundred day simple moving average of GBX 788.03.

Insiders Place Their Bets

In other Inchcape news, insider Byron Elmer Grote acquired 4,000 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was bought at an average cost of GBX 730 ($8.99) per share, with a total value of £29,200 ($35,947.31). 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.