Inchcape (LON:INCH) Shares Down 13.3% – What’s Next?

Inchcape plc (LON:INCH)’s stock price traded down 13.3% on Thursday . The stock traded as low as GBX 624.50 ($7.80) and last traded at GBX 652 ($8.14). 12,121,266 shares traded hands during trading, an increase of 240% from the average session volume of 3,566,330 shares. The stock had previously closed at GBX 752 ($9.39).

Analysts Set New Price Targets

INCH has been the subject of a number of analyst reports. Berenberg Bank reissued a “buy” rating and issued a GBX 1,120 ($13.98) price objective on shares of Inchcape in a research note on Friday, October 25th. JPMorgan Chase & Co. cut Inchcape to a “neutral” rating in a report on Thursday. Finally, Citigroup reaffirmed a “buy” rating on shares of Inchcape in a research note on Tuesday, January 7th.

Inchcape Trading Down 0.1 %

The stock has a market cap of £2.63 billion, a P/E ratio of 972.09, a price-to-earnings-growth ratio of 2.06 and a beta of 1.19. The stock’s 50-day moving average is GBX 759.18 and its two-hundred day moving average is GBX 786.40. 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 other Inchcape news, insider Byron Elmer Grote purchased 4,000 shares of Inchcape stock in a transaction that occurred on Tuesday, October 29th. The shares were bought at an average price of GBX 730 ($9.11) per share, for a total transaction of £29,200 ($36,458.98). 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.