Inchcape (LON:INCH) Trading Down 13.3% – Here’s What Happened

Inchcape plc (LON:INCH) fell 13.3% during trading on Thursday . The company traded as low as GBX 624.50 ($7.80) and last traded at GBX 652 ($8.14). 12,121,266 shares changed hands during trading, an increase of 240% from the average session volume of 3,566,330 shares. The stock had previously closed at GBX 752 ($9.39).

Analyst Ratings Changes

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

Inchcape Price Performance

The company’s 50-day simple moving average is GBX 759.18 and its 200 day simple moving average is GBX 786.40. The company has a quick ratio of 0.51, a current ratio of 1.10 and a debt-to-equity ratio of 198.14. The stock has a market capitalization of £2.63 billion, a price-to-earnings ratio of 972.09, a P/E/G ratio of 2.06 and a beta of 1.19.

Insider Activity

In other news, insider Byron Elmer Grote acquired 4,000 shares of Inchcape stock in a transaction dated Tuesday, October 29th. The stock was acquired at an average cost of GBX 730 ($9.11) per share, for a total transaction of £29,200 ($36,458.98). 14.84% of the stock is currently owned by 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.