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

Inchcape plc (LON:INCH) traded down 13.3% during trading on Friday . The company traded as low as GBX 624.50 ($7.71) and last traded at GBX 652 ($8.05). 12,121,266 shares changed hands during mid-day trading, an increase of 240% from the average session volume of 3,566,330 shares. The stock had previously closed at GBX 752 ($9.29).

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. JPMorgan Chase & Co. cut Inchcape to a “neutral” rating in a report on Thursday. Citigroup reissued a “buy” rating on shares of Inchcape in a report on Tuesday, January 7th. Finally, Berenberg Bank reissued a “buy” rating and issued a GBX 1,120 ($13.83) price target on shares of Inchcape in a report on Friday, October 25th.

Inchcape Trading Down 0.5 %

The company has a market capitalization of £2.62 billion, a PE ratio of 968.66, a PEG ratio of 2.06 and a beta of 1.19. The stock has a fifty day moving average of GBX 761.12 and a 200 day moving average of GBX 787.37. The company has a debt-to-equity ratio of 198.14, a quick ratio of 0.51 and a current ratio of 1.10.

Insider Transactions at Inchcape

In other news, insider Byron Elmer Grote acquired 4,000 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were acquired at an average cost of GBX 730 ($9.02) per share, with a total value of £29,200 ($36,067.19). 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.