Inchcape plc (LON:INCH - Get Free Report)'s share price fell 11.7% during mid-day 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 ($9.38) and last traded at GBX 706.50 ($9.38). 1,858,581 shares were traded during trading, an increase of 40% from the average session volume of 1,330,989 shares. The stock had previously closed at GBX 800 ($10.62).
Separately, Berenberg Bank reaffirmed a "buy" rating and set a GBX 1,120 ($14.87) target price on shares of Inchcape in a research report on Tuesday, July 29th.
Get Our Latest Report on INCH
Insiders Place Their Bets
In related news, insider Adrian Lewis purchased 150 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was bought at an average price of GBX 684 ($9.08) per share, for a total transaction of £1,026 ($1,361.83). Also, insider Byron Elmer Grote purchased 5,000 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were bought at an average price of GBX 725 ($9.62) per share, with a total value of £36,250 ($48,115.21). Insiders own 14.84% of the company's stock.
Inchcape Price Performance
The company has a 50 day moving average of GBX 725.29 and a 200 day moving average of GBX 698.62. The company has a current ratio of 1.10, a quick ratio of 0.51 and a debt-to-equity ratio of 206.10. The firm has a market cap of £2.70 billion, a price-to-earnings ratio of 10.96, a P/E/G ratio of 2.06 and a beta of 1.19.
Inchcape (LON:INCH - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported GBX 35.50 ($0.47) earnings per share for the quarter. Inchcape had a return on equity of 17.60% and a net margin of 2.45%. Equities research analysts predict that Inchcape plc will post 85.9639233 EPS for the current fiscal year.
About Inchcape
(
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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.
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