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

Inchcape plc (LON:INCH)’s share price dropped 13.3% during mid-day trading on Thursday . The company traded as low as GBX 624.50 ($7.80) and last traded at GBX 652 ($8.14). Approximately 12,121,266 shares changed 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 ($9.39).

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on INCH shares. Berenberg Bank reissued a “buy” rating and issued a GBX 1,120 ($13.98) price target on shares of Inchcape in a research note on Friday, October 25th. JPMorgan Chase & Co. downgraded shares of Inchcape to a “neutral” rating in a research report on Thursday. Finally, Citigroup restated a “buy” rating on shares of Inchcape in a report on Tuesday, January 7th.

Inchcape Price Performance

The stock has a market capitalization of £2.63 billion, a PE ratio of 972.09, a price-to-earnings-growth ratio of 2.06 and a beta of 1.19. 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 business’s 50-day moving average price is GBX 759.18 and its 200 day moving average price is GBX 786.40.

Insider Transactions at Inchcape

In related news, insider Byron Elmer Grote bought 4,000 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was purchased at an average cost of GBX 730 ($9.11) per share, with a total value of £29,200 ($36,458.98). 14.84% of the stock is owned by 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.