Inchcape (LON:INCH) Stock Price Down 8.1% – What’s Next?

Shares of Inchcape plc (LON:INCH) dropped 8.1% on Thursday . The company traded as low as GBX 624.50 ($7.69) and last traded at GBX 690.89 ($8.51). Approximately 8,351,929 shares traded hands during trading, an increase of 151% from the average daily volume of 3,330,747 shares. The stock had previously closed at GBX 752 ($9.26).

Analysts Set New Price Targets

INCH has been the topic of several recent analyst reports. Citigroup restated a “buy” rating on shares of Inchcape in a report on Tuesday, January 7th. JPMorgan Chase & Co. downgraded shares of Inchcape to a “neutral” rating in a research note on Thursday. Finally, Berenberg Bank reissued a “buy” rating and set a GBX 1,120 ($13.79) price objective on shares of Inchcape in a report on Friday, October 25th.

Inchcape Trading Down 13.3 %

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 company has a market cap of £2.63 billion, a price-to-earnings ratio of 973.13, a P/E/G ratio of 2.06 and a beta of 1.19. The company’s fifty day moving average is GBX 762.98 and its two-hundred day moving average is GBX 788.03.

Insider Activity

In related news, insider Byron Elmer Grote purchased 6,000 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was bought at an average cost of GBX 725 ($8.93) per share, with a total value of £43,500 ($53,551.64). 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.