Inchcape (LON:INCH) Shares Down 13.3% – Here’s Why

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

Analysts Set New Price Targets

A number of research analysts recently commented on INCH shares. Berenberg Bank reiterated a “buy” rating and issued a GBX 1,120 ($13.98) price target on shares of Inchcape in a research note on Friday, October 25th. JPMorgan Chase & Co. lowered shares of Inchcape to a “neutral” rating in a research note on Thursday. Finally, Citigroup reiterated a “buy” rating on shares of Inchcape in a research note on Tuesday, January 7th.

Inchcape Stock Performance

The stock’s 50-day simple moving average is GBX 759.18 and its 200-day simple moving average is GBX 786.33. The stock has a market cap of £2.63 billion, a price-to-earnings ratio of 972.09, a price-to-earnings-growth ratio of 2.06 and a beta of 1.19. The company has a current ratio of 1.10, a quick ratio of 0.51 and a debt-to-equity ratio of 198.14.

Insiders Place Their Bets

In other news, insider Byron Elmer Grote purchased 4,000 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was bought at an average price of GBX 730 ($9.11) per share, with a total value of £29,200 ($36,449.88). Company 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.