Inchcape plc (LON:INCH – Get Free Report)’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.
Read Our Latest Analysis on Inchcape
Inchcape Stock Performance
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.
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