Inchcape (LON:INCH) Shares Down 13.7% - Here's What Happened

Inchcape plc (LON:INCH - Get Free Report)'s share price fell 13.7% during trading on Thursday . The company traded as low as GBX 647 ($7.99) and last traded at GBX 649 ($8.02). 5,527,542 shares were traded during trading, an increase of 75% from the average session volume of 3,154,223 shares. The stock had previously closed at GBX 752 ($9.29).

Analysts Set New Price Targets

A number of research firms have recently commented on INCH. Citigroup reissued a "buy" rating on shares of Inchcape in a report on Tuesday, January 7th. Berenberg Bank restated a "buy" rating and set a GBX 1,120 ($13.83) price objective on shares of Inchcape in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. lowered Inchcape to a "neutral" rating in a research report on Thursday.

Inchcape Stock Down 13.3 %

The stock has a 50-day moving average of GBX 762.98 and a 200 day moving average of GBX 788.03. The company has a market capitalization of £2.63 billion, a PE ratio of 973.13, a P/E/G ratio of 2.06 and a beta of 1.19. The company has a quick ratio of 0.51, a current ratio of 1.10 and a debt-to-equity ratio of 198.14.

Insider Buying and Selling

In other news, insider Byron Elmer Grote purchased 4,000 shares of the stock in a transaction on Tuesday, October 29th. The shares were acquired at an average price of GBX 730 ($9.02) per share, for a total transaction of £29,200 ($36,067.19). 14.84% of the stock is currently 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.