Inchcape plc (LON:INCH – Get Free Report)’s stock price dropped 13.3% on Thursday . The company traded as low as GBX 624.50 ($7.71) and last traded at GBX 652 ($8.05). Approximately 12,121,266 shares were traded during mid-day trading, an increase of 240% from the average daily volume of 3,566,330 shares. The stock had previously closed at GBX 752 ($9.29).
Analyst Upgrades and Downgrades
INCH has been the topic of a number of research reports. JPMorgan Chase & Co. downgraded shares of Inchcape to a “neutral” rating in a research report on Thursday. Citigroup reissued a “buy” rating on shares of Inchcape in a report on Tuesday, January 7th. Finally, Berenberg Bank reissued a “buy” rating and issued a GBX 1,120 ($13.83) price objective on shares of Inchcape in a research note on Friday, October 25th.
Check Out Our Latest Report on Inchcape
Inchcape Price Performance
Insider Transactions at Inchcape
In other Inchcape news, insider Byron Elmer Grote purchased 4,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was bought at an average cost of GBX 730 ($9.02) per share, for a total transaction of £29,200 ($36,067.19). 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.
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