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

Inchcape plc (LON:INCH) dropped 13.3% during mid-day trading on Thursday . The stock traded as low as GBX 624.50 ($7.80) and last traded at GBX 652 ($8.14). Approximately 12,121,266 shares were traded during trading, an increase of 240% from the average daily volume of 3,566,330 shares. The stock had previously closed at GBX 752 ($9.39).

Wall Street Analyst Weigh In

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

Inchcape Price Performance

The stock has a fifty day moving average of GBX 759.18 and a two-hundred day moving average of GBX 786.40. 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 stock has a market capitalization of £2.63 billion, a price-to-earnings ratio of 972.09, a PEG ratio of 2.06 and a beta of 1.19.

Insider Activity

In related news, insider Byron Elmer Grote acquired 4,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were purchased at an average price of GBX 730 ($9.11) per share, with a total value of £29,200 ($36,458.98). 14.84% of the stock is currently owned by corporate insiders.

Inchcape Company Profile

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.