Inchcape (LON:INCH) Shares Down 11.7% Following Analyst Downgrade

Inchcape plc (LON:INCH)’s stock price dropped 11.7% during trading 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 ($9.37) and last traded at GBX 706.50 ($9.37). Approximately 1,858,581 shares were traded during mid-day trading, an increase of 40% from the average daily volume of 1,330,989 shares. The stock had previously closed at GBX 800 ($10.61).

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 1,120 ($14.85) target price on shares of Inchcape in a report on Tuesday.

Insider Activity at Inchcape

In related news, insider Adrian Lewis acquired 150 shares of the company’s stock in a transaction on Monday, June 16th. The stock was acquired at an average price of GBX 684 ($9.07) per share, with a total value of £1,026 ($1,360.38). 14.84% of the stock is owned by company insiders.

Inchcape Trading Down 1.6%

The company has a debt-to-equity ratio of 206.10, a quick ratio of 0.51 and a current ratio of 1.10. The stock’s fifty day moving average is GBX 724.96 and its 200 day moving average is GBX 699.30. The stock has a market cap of £2.73 billion, a P/E ratio of 11.10, a P/E/G ratio of 2.06 and a beta of 1.19.

Inchcape (LON:INCH) last announced its quarterly earnings results on Tuesday, July 29th. The company reported GBX 35.50 ($0.47) EPS 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 predict that Inchcape plc will post 85.9639233 earnings per share for the current fiscal year.

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.