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

Inchcape plc (LON:INCH) dropped 13.7% on Thursday . The company traded as low as GBX 647 ($7.97) and last traded at GBX 649 ($7.99). Approximately 5,527,542 shares were traded 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 ($9.26).

Analysts Set New Price Targets

INCH has been the subject of a number of research reports. Citigroup reaffirmed a “buy” rating on shares of Inchcape in a research note on Tuesday, January 7th. Berenberg Bank reissued a “buy” rating and issued a GBX 1,120 ($13.79) target price on shares of Inchcape in a report on Friday, October 25th.

Inchcape Stock Down 13.7 %

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 fifty day moving average price of GBX 762.98 and a 200 day moving average price of GBX 788.03. The firm has a market capitalization of £2.62 billion, a price-to-earnings ratio of 968.66, a PEG ratio of 2.06 and a beta of 1.19.

Insider Activity

In related news, insider Byron Elmer Grote purchased 4,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was bought at an average price of GBX 730 ($8.99) per share, with a total value of £29,200 ($35,947.31). Insiders own 14.84% of the company’s stock.

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.