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

Inchcape plc (LON:INCH) fell 13.7% during trading on Thursday . The stock traded as low as GBX 647 ($7.97) and last traded at GBX 649 ($7.99). 5,527,542 shares traded hands during trading, an increase of 75% from the average session volume of 3,154,223 shares. The stock had previously closed at GBX 752 ($9.26).

Analyst Upgrades and Downgrades

Several brokerages have recently commented on INCH. Berenberg Bank reaffirmed a “buy” rating and set a GBX 1,120 ($13.79) target price on shares of Inchcape in a report on Friday, October 25th. Citigroup reissued a “buy” rating on shares of Inchcape in a research note on Tuesday, January 7th.

Inchcape Stock Performance

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 50 day moving average of GBX 762.98 and a 200-day moving average of GBX 788.03. The stock has a market capitalization of £2.62 billion, a PE ratio of 968.66, a P/E/G ratio of 2.06 and a beta of 1.19.

Insiders Place Their Bets

In related news, insider Byron Elmer Grote acquired 6,000 shares of the stock in a transaction dated Friday, October 25th. The shares were acquired at an average price 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.