Inchcape (LON:INCH) Trading Down 13.7% – Should You Sell?

Shares of Inchcape plc (LON:INCH) 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 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).

Wall Street Analysts Forecast Growth

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

Inchcape Price Performance

The company has a market capitalization of £2.63 billion, a PE ratio of 972.09, a P/E/G ratio of 2.06 and a beta of 1.19. 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 stock has a 50 day moving average price of GBX 759.18 and a two-hundred day moving average price of GBX 786.40.

Insider Buying and Selling

In other Inchcape news, insider Byron Elmer Grote acquired 4,000 shares of Inchcape stock in a transaction that occurred on Tuesday, October 29th. The stock was acquired 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.