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

Key Points

• Inchcape's shares fell 11.7% during trading on Tuesday, with the stock last trading at GBX 706.50 ($9.44).
• Analysts from Berenberg Bank reaffirmed a "buy" rating" with a target price of GBX 1,120 ($14.96), while Citigroup lowered their target from GBX 1,161 ($15.50) to GBX 1,101 ($14.70).
• Insider Adrian Lewis purchased 150 shares at an average price of GBX 684 ($9.13), indicating corporate confidence amid recent stock declines.

Shares of Inchcape plc (LON:INCH - Get Free Report) were down 11.7% during trading on Tuesday . The company traded as low as GBX 706.50 ($9.38) and last traded at GBX 706.50 ($9.38). Approximately 1,858,581 shares changed hands 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 ($10.62).

Analyst Ratings Changes

Several analysts have weighed in on the stock. Citigroup lowered their price target 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. reissued a "neutral" rating on shares of Inchcape in a research note on Thursday. Berenberg Bank reiterated a "buy" rating and issued a GBX 1,120 ($14.87) price target on shares of Inchcape in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a GBX 800 ($10.62) target price on shares of Inchcape in a research note on Wednesday.

Inchcape Stock Down 2.3%

The company has a 50 day simple moving average of GBX 725.29 and a two-hundred day simple moving average of GBX 698.92. The firm has a market capitalization of £2.70 billion, a P/E ratio of 10.96, a P/E/G ratio of 2.06 and a beta of 1.19. The company has a current ratio of 1.10, a quick ratio of 0.51 and a debt-to-equity ratio of 206.10.

Inchcape (LON:INCH - Get Free Report) last posted 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%. On average, equities analysts predict that Inchcape plc will post 85.9639233 EPS for the current fiscal year.

Insider Activity at Inchcape

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