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

Inchcape plc (LON:INCH) shares were down 13.3% 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 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 ($9.29).

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Citigroup restated a “buy” rating on shares of Inchcape in a research note on Tuesday, January 7th. JPMorgan Chase & Co. cut Inchcape to a “neutral” rating in a research note on Thursday. Finally, Berenberg Bank restated a “buy” rating and set a GBX 1,120 ($13.83) price objective on shares of Inchcape in a report on Friday, October 25th.

Inchcape Stock Down 13.3 %

The company has a current ratio of 1.10, a quick ratio of 0.51 and a debt-to-equity ratio of 198.14. The firm has a market cap 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 business’s 50-day simple moving average is GBX 761.12 and its 200 day simple moving average is GBX 787.37.

Insider Activity at Inchcape

In other news, insider Byron Elmer Grote purchased 4,000 shares of the firm’s stock in a transaction 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). 14.84% of the stock is currently owned by corporate insiders.

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.