Inchcape plc (LON:INCH – Get Free Report)’s stock price fell 8.1% during mid-day trading on Thursday . The company traded as low as GBX 624.50 ($7.69) and last traded at GBX 690.89 ($8.51). 8,351,929 shares changed hands during mid-day trading, an increase of 151% from the average session volume of 3,330,747 shares. The stock had previously closed at GBX 752 ($9.26).
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on INCH. Citigroup reiterated a “buy” rating on shares of Inchcape in a research report on Tuesday, January 7th. Berenberg Bank reiterated a “buy” rating and set a GBX 1,120 ($13.79) price objective on shares of Inchcape in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. downgraded shares of Inchcape to a “neutral” rating in a report on Thursday.
Read Our Latest Stock Report on Inchcape
Inchcape Stock Performance
Insiders Place Their Bets
In related news, insider Byron Elmer Grote bought 4,000 shares of the stock in a transaction dated Tuesday, October 29th. The stock was purchased at an average cost of GBX 730 ($8.99) per share, with a total value of £29,200 ($35,947.31). 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.
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