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

Inchcape plc (LON:INCH) shares traded down 13.3% during trading on Friday . The stock traded as low as GBX 624.50 ($7.80) and last traded at GBX 652 ($8.14). 12,121,266 shares traded 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).

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Citigroup reissued a “buy” rating on shares of Inchcape in a research note on Tuesday, January 7th. JPMorgan Chase & Co. cut Inchcape to a “neutral” rating in a research note on Thursday. Finally, Berenberg Bank reissued a “buy” rating and set a GBX 1,120 ($13.98) target price on shares of Inchcape in a research note on Friday, October 25th.

Inchcape Price Performance

The company has a market capitalization of £2.63 billion, a PE ratio of 972.09, a P/E/G 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. The stock has a fifty day simple moving average of GBX 759.18 and a 200-day simple moving average of GBX 786.33.

Insiders Place Their Bets

In other news, insider Byron Elmer Grote bought 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, with a total value of £29,200 ($36,449.88). 14.84% of the stock is owned by company 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.