Inchcape (LON:INCH) Shares Down 9.6% – Time to Sell?

Shares of Inchcape plc (LON:INCH) dropped 9.6% during trading on Thursday . The stock traded as low as GBX 675 ($8.43) and last traded at GBX 680 ($8.49). Approximately 3,672,161 shares changed hands during mid-day trading, an increase of 21% from the average daily volume of 3,038,261 shares. The stock had previously closed at GBX 752 ($9.39).

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. cut shares of Inchcape to a “neutral” rating in a research report on Thursday. Citigroup restated a “buy” rating on shares of Inchcape in a research note on Tuesday, January 7th. Finally, Berenberg Bank reiterated a “buy” rating and issued a GBX 1,120 ($13.98) price target on shares of Inchcape in a research note on Friday, October 25th.

Inchcape Trading Down 0.1 %

The company has a market capitalization of £2.63 billion, a price-to-earnings ratio of 972.09, a P/E/G ratio of 2.06 and a beta of 1.19. The company has a current ratio of 1.10, a quick ratio of 0.51 and a debt-to-equity ratio of 198.14. The business’s 50 day moving average price is GBX 759.18 and its two-hundred day moving average price is GBX 786.40.

Insider Buying and Selling at Inchcape

In other news, insider Byron Elmer Grote purchased 4,000 shares of Inchcape stock in a transaction dated Tuesday, October 29th. The shares were bought at an average cost of GBX 730 ($9.11) per share, for a total transaction of £29,200 ($36,458.98). Company 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.