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

Inchcape plc (LON:INCH) fell 13.3% on Thursday . The stock traded as low as GBX 624.50 ($7.71) and last traded at GBX 652 ($8.05). 12,121,266 shares traded 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).

Analyst Upgrades and Downgrades

Several brokerages recently commented on INCH. JPMorgan Chase & Co. cut Inchcape to a “neutral” rating in a research report on Thursday. Citigroup reaffirmed 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 target on shares of Inchcape in a research note on Friday, October 25th.

Inchcape Price Performance

The company has a debt-to-equity ratio of 198.14, a current ratio of 1.10 and a quick ratio of 0.51. The stock has a 50 day simple moving average of GBX 762.98 and a two-hundred day simple moving average of GBX 788.03. The company has a market cap of £2.63 billion, a price-to-earnings ratio of 973.13, a price-to-earnings-growth ratio of 2.06 and a beta of 1.19.

Insider Activity

In other Inchcape news, insider Byron Elmer Grote acquired 6,000 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was bought at an average cost of GBX 725 ($8.96) per share, for a total transaction of £43,500 ($53,730.24). 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.