Inchcape plc (LON:INCH – Get Free Report)’s share price dropped 13.7% on Thursday . The company traded as low as GBX 647 ($8.08) and last traded at GBX 649 ($8.10). Approximately 5,527,542 shares changed hands during mid-day trading, an increase of 75% from the average daily volume of 3,154,223 shares. The stock had previously closed at GBX 752 ($9.39).
Analyst Ratings Changes
INCH has been the subject of a number of analyst reports. JPMorgan Chase & Co. downgraded shares of Inchcape to a “neutral” rating in a research report on Thursday. Citigroup reiterated a “buy” rating on shares of Inchcape in a research report on Tuesday, January 7th. Finally, Berenberg Bank reiterated a “buy” rating and issued a GBX 1,120 ($13.98) price objective on shares of Inchcape in a research report on Friday, October 25th.
Get Our Latest Stock Analysis on INCH
Inchcape Stock Performance
Insider Buying and Selling
In other Inchcape news, insider Byron Elmer Grote acquired 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was bought at an average price of GBX 730 ($9.11) per share, with a total value 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.
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