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

Inchcape plc (LON:INCH)’s share price fell 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). 12,121,266 shares were traded during trading, an increase of 240% from the average session volume of 3,566,330 shares. The stock had previously closed at GBX 752 ($9.29).

Wall Street Analysts Forecast Growth

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

Inchcape Trading Down 13.3 %

The company has a debt-to-equity ratio of 198.14, a quick ratio of 0.51 and a current ratio of 1.10. The firm has a market cap of £2.63 billion, a price-to-earnings ratio of 973.13, a PEG 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.

Insider Activity

In related news, insider Byron Elmer Grote purchased 4,000 shares of Inchcape stock in a transaction on Tuesday, October 29th. The shares were purchased 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 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.