Inchcape plc (LON:INCH - Get Free Report) shares dropped 13.3% during mid-day trading on Thursday . The stock traded as low as GBX 624.50 ($7.71) and last traded at GBX 652 ($8.05). Approximately 12,121,266 shares traded hands during trading, an increase of 240% from the average daily volume of 3,566,330 shares. The stock had previously closed at GBX 752 ($9.29).
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on INCH. Citigroup restated a "buy" rating on shares of Inchcape in a research note on Tuesday, January 7th. Berenberg Bank reissued a "buy" rating and issued a GBX 1,120 ($13.83) target price on shares of Inchcape in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. lowered shares of Inchcape to a "neutral" rating in a research report on Thursday.
Read Our Latest Stock Analysis on INCH
Inchcape Stock Performance
The company has a debt-to-equity ratio of 198.14, a current ratio of 1.10 and a quick ratio of 0.51. The stock has a 50-day moving average price of GBX 762.98 and a 200-day moving average price of GBX 788.03. The company has a market capitalization of £2.63 billion, a price-to-earnings ratio of 973.13, a PEG ratio of 2.06 and a beta of 1.19.
Insider Buying and Selling at Inchcape
In other news, insider Byron Elmer Grote purchased 4,000 shares of the company's stock in a transaction that occurred on Tuesday, October 29th. The stock was 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
(
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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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