Inchcape (LON:INCH) Trading Down 13.7% – Here’s Why

Inchcape plc (LON:INCHGet 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

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 firm’s 50-day moving average is GBX 759.18 and its two-hundred day moving average is GBX 786.40. 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.

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

(Get Free Report)

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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