Inchcape (OTCMKTS:IHCPF) Shares Down 1.3% – Here’s What Happened

Inchcape plc (OTCMKTS:IHCPF)’s share price was down 1.3% during mid-day trading on Tuesday . The company traded as low as C$10.86 and last traded at C$10.86. Approximately 75 shares traded hands during trading, a decline of 99% from the average session volume of 7,100 shares. The stock had previously closed at C$11.00.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Inchcape in a research note on Wednesday, July 29th. Citigroup reiterated a “buy” rating on shares of Inchcape in a research note on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Inchcape currently has an average rating of “Moderate Buy”.

Inchcape Stock Performance

The business has a fifty day moving average of C$10.99 and a two-hundred day moving average of C$11.16.

About Inchcape

Inchcape (OTCMKTS:IHCPF) is a London-based global automotive distribution, retail and after-sales services company. As an independent operator, Inchcape partners with a broad portfolio of vehicle manufacturers to distribute new cars, manage dealer networks and deliver comprehensive maintenance, parts and warranty support. The company’s integrated model also encompasses vehicle financing, insurance and used car remarketing, positioning Inchcape as a full-service provider across the automotive value chain.

The company’s distribution operations secure exclusive or preferred rights for leading brands, while its retail division oversees a network of dealerships that span showroom sales, customer care and parts supply.