IG Group (LON:IGG) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

by · The Markets Daily

IG Group Holdings plc (LON:IGG – Get Free Report)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 1,391.58 and traded as high as GBX 1,852. IG Group shares last traded at GBX 1,843, with a volume of 637,610 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IGG. Royal Bank Of Canada increased their target price on IG Group from GBX 1,600 to GBX 1,850 and gave the company an “outperform” rating in a report on Wednesday, May 20th. Jefferies Financial Group reissued a “buy” rating and set a GBX 1,250 target price on shares of IG Group in a report on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on IG Group from GBX 1,650 to GBX 1,750 and gave the company a “buy” rating in a report on Wednesday, May 20th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of GBX 1,288.

View Our Latest Research Report on IGG

IG Group Stock Performance

The company has a debt-to-equity ratio of 31.16, a current ratio of 215.53 and a quick ratio of 2.40. The stock has a market cap of £6.09 billion, a price-to-earnings ratio of 17.50, a PEG ratio of -1.44 and a beta of 0.49. The firm has a fifty day moving average of GBX 1,587.96 and a 200 day moving average of GBX 1,394.71.

IG Group (LON:IGG – Get Free Report) last issued its quarterly earnings data on Thursday, March 19th. The company reported GBX 196.66 earnings per share for the quarter. IG Group had a return on equity of 26.63% and a net margin of 43.07%. As a group, sell-side analysts forecast that IG Group Holdings plc will post 104.0295119 EPS for the current year.

IG Group declared that its Board of Directors has authorized a stock repurchase program on Wednesday, April 1st that allows the company to repurchase 0 shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

About IG Group

(Get Free Report)

IG Group Holdings plc (“IG”) is a FTSE 100 financial technology company operating at the intersection of retail trading, technology and capital markets. Through its trusted brands – IG, tastytrade, Freetrade and Independent Reserve – the Group serves over 1.3 million customers worldwide, providing leveraged trading, stock trading and investments, and cryptocurrency trading via its proprietary platforms. For more information, visit www.iggroup.com.

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