Inchcape (LON:INCH) Trading Down 11.7% on Analyst Downgrade

Shares of Inchcape plc (LON:INCH) dropped 11.7% on Wednesday after Citigroup lowered their price target on the stock from GBX 1,161 to GBX 1,101. Citigroup currently has a buy rating on the stock. Inchcape traded as low as GBX 706.50 ($9.44) and last traded at GBX 706.50 ($9.44). Approximately 1,858,581 shares changed hands during trading, an increase of 40% from the average daily volume of 1,330,989 shares. The stock had previously closed at GBX 800 ($10.68).

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 1,120 ($14.96) price target on shares of Inchcape in a research note on Tuesday.

Insider Buying and Selling

In related news, insider Adrian Lewis purchased 150 shares of Inchcape stock in a transaction that occurred on Monday, June 16th. The shares were bought at an average price of GBX 684 ($9.13) per share, with a total value of £1,026 ($1,370.19). 14.84% of the stock is owned by corporate insiders.

Inchcape Stock Up 0.1%

The company has a current ratio of 1.10, a quick ratio of 0.51 and a debt-to-equity ratio of 206.10. The firm has a market cap of £2.78 billion, a PE ratio of 11.30, a P/E/G ratio of 2.06 and a beta of 1.19. The business’s 50-day simple moving average is GBX 724.80 and its 200 day simple moving average is GBX 699.28.

Inchcape (LON:INCH) last released its quarterly earnings results on Tuesday, July 29th. The company reported GBX 35.50 ($0.47) earnings per share for the quarter. Inchcape had a net margin of 2.45% and a return on equity of 17.60%. As a group, equities research analysts expect that Inchcape plc will post 85.9639233 earnings per share for the current year.

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.