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

Shares of Inchcape plc (LON:INCH) were down 13.3% during trading on Thursday . The stock traded as low as GBX 624.50 ($7.71) and last traded at GBX 652 ($8.05). Approximately 12,121,266 shares changed hands during 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 Ratings Changes

A number of brokerages have weighed in on INCH. JPMorgan Chase & Co. downgraded shares of Inchcape to a “neutral” rating in a research report on Thursday. Berenberg Bank reiterated a “buy” rating and set a GBX 1,120 ($13.83) price target 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 Price Performance

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 stock has a market capitalization of £2.63 billion, a PE ratio of 973.13, a price-to-earnings-growth ratio of 2.06 and a beta of 1.19. The stock’s 50 day moving average is GBX 761.12 and its two-hundred day moving average is GBX 787.37.

Insider Transactions at Inchcape

In other Inchcape news, insider Byron Elmer Grote bought 4,000 shares of Inchcape stock in a transaction dated Tuesday, October 29th. The stock was acquired at an average cost of GBX 730 ($9.02) per share, for a total transaction of £29,200 ($36,067.19). 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.