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

Inchcape plc (LON:INCH)’s stock price fell 13.3% on Thursday . The company traded as low as GBX 624.50 ($7.80) and last traded at GBX 652 ($8.14). 12,121,266 shares were traded 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 ($9.39).

Analysts Set New Price Targets

Several analysts have issued reports on the company. Berenberg Bank restated a “buy” rating and set a GBX 1,120 ($13.98) price objective on shares of Inchcape in a report on Friday, October 25th. Citigroup reaffirmed a “buy” rating on shares of Inchcape in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lowered Inchcape to a “neutral” rating in a research report on Thursday.

Inchcape Stock Down 0.1 %

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 market cap 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 business has a fifty day moving average of GBX 759.18 and a 200 day moving average of GBX 786.40.

Insider Activity

In related news, insider Byron Elmer Grote bought 4,000 shares of Inchcape stock in a transaction that occurred on Tuesday, October 29th. The stock was purchased at an average cost of GBX 730 ($9.11) per share, for a total transaction of £29,200 ($36,458.98). 14.84% of the stock is owned by insiders.

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.