Inchcape (OTCMKTS:IHCPF) Stock Price Down 1.3% – Here’s Why

Inchcape plc (OTCMKTS:IHCPF) fell 1.3% during mid-day trading on Tuesday . The stock traded as low as C$10.86 and last traded at C$10.86. Approximately 75 shares changed hands during trading, a decline of 99% from the average daily volume of 7,100 shares. The stock had previously closed at C$11.00.

Analyst Ratings Changes

A number of research firms recently issued reports on IHCPF. Citigroup reiterated a “buy” rating on shares of Inchcape in a research note on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Inchcape in a report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy”.

Inchcape Stock Down 1.3%

The company has a 50-day simple moving average of C$11.00 and a 200 day simple moving average of C$11.17.

About Inchcape

Inchcape (OTCMKTS:IHCPF) is a London-based global automotive distribution, retail and after-sales services company. As an independent operator, Inchcape partners with a broad portfolio of vehicle manufacturers to distribute new cars, manage dealer networks and deliver comprehensive maintenance, parts and warranty support. The company’s integrated model also encompasses vehicle financing, insurance and used car remarketing, positioning Inchcape as a full-service provider across the automotive value chain.

The company’s distribution operations secure exclusive or preferred rights for leading brands, while its retail division oversees a network of dealerships that span showroom sales, customer care and parts supply.