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

Inchcape plc (LON:INCH) dropped 13.3% on Thursday . The company traded as low as GBX 624.50 ($7.69) and last traded at GBX 652 ($8.03). Approximately 12,121,266 shares traded 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 ($9.26).

Wall Street Analysts Forecast Growth

A number of brokerages have commented on INCH. Citigroup reiterated a “buy” rating on shares of Inchcape in a report on Tuesday, January 7th. JPMorgan Chase & Co. lowered shares of Inchcape to a “neutral” rating in a research note on Thursday. Finally, Berenberg Bank restated a “buy” rating and issued a GBX 1,120 ($13.79) target price on shares of Inchcape in a research note on Friday, October 25th.

Inchcape Stock Performance

The company has a quick ratio of 0.51, a current ratio of 1.10 and a debt-to-equity ratio of 198.14. The company has a market capitalization of £2.63 billion, a PE ratio of 973.13, a PEG ratio of 2.06 and a beta of 1.19. The business has a 50 day simple moving average of GBX 762.98 and a 200 day simple moving average of GBX 788.03.

Insider Activity at Inchcape

In other news, insider Byron Elmer Grote acquired 4,000 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were acquired at an average cost of GBX 730 ($8.99) per share, with a total value of £29,200 ($35,947.31). 14.84% of the stock is currently owned by insiders.

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.