Shares of Inchcape plc (LON:INCH – Get Free Report) were down 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). Approximately 12,121,266 shares were traded during 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).
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the stock. Citigroup reiterated a “buy” rating on shares of Inchcape in a report on Tuesday, January 7th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 1,120 ($13.98) price target on shares of Inchcape in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. downgraded Inchcape to a “neutral” rating in a research note on Thursday.
Check Out Our Latest Stock Analysis on INCH
Inchcape Price Performance
Insider Buying and Selling at Inchcape
In related news, insider Byron Elmer Grote purchased 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was acquired at an average price of GBX 730 ($9.11) per share, for a total transaction of £29,200 ($36,458.98). 14.84% of the stock is owned by corporate 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.
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