Inchcape (LON:INCH) Stock Price Down 11.7% - Here's What Happened

Key Points

• Inchcape's share price fell by 11.7%, trading at GBX 706.50 ($9.44) during Tuesday's trading session, with a significant increase in volume compared to average trading activity.
• Analysts have given mixed ratings, with Citigroup maintaining a "buy" rating but slightly lowering its price target to GBX 1,161 ($15.50), while Berenberg Bank also restated a "buy" rating with a target of GBX 1,120 ($14.96).
• The company reported earnings per share of GBX 35.50 ($0.47) for the last quarter, with an anticipated average EPS of approximately 86 for the current fiscal year.

Inchcape plc (LON:INCH - Get Free Report) traded down 11.7% during mid-day trading on Tuesday . The company traded as low as GBX 706.50 ($9.38) and last traded at GBX 706.50 ($9.38). 1,858,581 shares changed hands 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).

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Berenberg Bank reiterated a "buy" rating and set a GBX 1,120 ($14.87) price objective on shares of Inchcape in a research note on Tuesday. Citigroup lowered their target price on shares of Inchcape from GBX 1,161 ($15.41) to GBX 1,101 ($14.61) and set a "buy" rating for the company in a research note on Wednesday. JPMorgan Chase & Co. restated a "neutral" rating on shares of Inchcape in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a GBX 800 ($10.62) target price on shares of Inchcape in a research note on Wednesday.

Inchcape Trading Down 2.3%

The stock's fifty day simple moving average is GBX 725.29 and its 200-day simple moving average is GBX 698.92. The firm has a market cap of £2.70 billion, a PE ratio of 10.96, a PEG ratio of 2.06 and a beta of 1.19. The company has a debt-to-equity ratio of 206.10, a current ratio of 1.10 and a quick ratio of 0.51.

Inchcape (LON:INCH - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported GBX 35.50 ($0.47) earnings per share (EPS) for the quarter. Inchcape had a net margin of 2.45% and a return on equity of 17.60%. On average, sell-side analysts forecast that Inchcape plc will post 85.9639233 earnings per share for the current year.

Insider Buying and Selling at Inchcape

In other Inchcape news, insider Adrian Lewis bought 150 shares of Inchcape stock in a transaction that occurred on Monday, June 16th. The stock was purchased at an average price of GBX 684 ($9.08) per share, with a total value of £1,026 ($1,361.83). Also, insider Byron Elmer Grote bought 5,000 shares of Inchcape stock in a transaction that occurred on Tuesday, July 29th. The shares were acquired at an average cost of GBX 725 ($9.62) per share, with a total value of £36,250 ($48,115.21). Company insiders own 14.84% of the company's stock.

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.