Inchcape (LON:INCH) Stock Price Down 13.3% – Time to Sell?

Inchcape plc (LON:INCH)’s share price was down 13.3% during trading on Thursday . The company 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 mid-day 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).

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. JPMorgan Chase & Co. lowered Inchcape to a “neutral” rating in a report on Thursday. Citigroup reiterated a “buy” rating on shares of Inchcape in a report on Tuesday, January 7th. Finally, Berenberg Bank restated a “buy” rating and set a GBX 1,120 ($13.83) price target on shares of Inchcape in a research note on Friday, October 25th.

Inchcape Price Performance

The stock has a market capitalization of £2.63 billion, a P/E ratio of 973.13, a price-to-earnings-growth ratio of 2.06 and a beta of 1.19. The business has a fifty day simple moving average of GBX 761.12 and a 200 day simple moving average of GBX 787.37. The company has a current ratio of 1.10, a quick ratio of 0.51 and a debt-to-equity ratio of 198.14.

Insider Buying and Selling

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