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

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

Wall Street Analyst Weigh In

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

Inchcape Stock Performance

The firm has a 50 day moving average price of C$11.00 and a 200-day moving average price 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.