Inchcape (LON:INCH) Shares Down 13.3% – Time to Sell?

Inchcape plc (LON:INCH)’s stock price dropped 13.3% during mid-day trading 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 changed 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 Analyst Weigh In

INCH has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut Inchcape to a “neutral” rating in a research note on Thursday. Berenberg Bank reissued 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. Finally, Citigroup reissued a “buy” rating on shares of Inchcape in a research note on Tuesday, January 7th.

Inchcape Stock Performance

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

Insider Transactions at Inchcape

In related news, insider Byron Elmer Grote bought 4,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was acquired at an average cost of GBX 730 ($8.99) per share, for a total transaction of £29,200 ($35,947.31). 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.