IG Group (LON:IGG) Trading Up 7.5% – Time to Buy?

IG Group Holdings plc (LON:IGG) shares were up 7.5% during trading on Tuesday . The company traded as high as GBX 1,700 and last traded at GBX 1,691.50. Approximately 5,340,505 shares changed hands during trading, an increase of 7% from the average daily volume of 4,985,192 shares. The stock had previously closed at GBX 1,574.

Analysts Set New Price Targets

A number of research analysts have weighed in on IGG shares. Jefferies Financial Group reiterated a “buy” rating and set a GBX 1,250 target price on shares of IG Group in a report on Wednesday. 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 research note on Wednesday. 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 research note on Wednesday. Seven analysts have rated the stock with a Buy rating, According to MarketBeat.com, IG Group has an average rating of “Buy” and a consensus target price of GBX 1,448.43.

IG Group Trading Up 4.1%

The company has a quick ratio of 2.40, a current ratio of 3.43 and a debt-to-equity ratio of 30.81. The stock has a fifty day simple moving average of GBX 1,483.20 and a 200 day simple moving average of GBX 1,336.46. The firm has a market capitalization of £6.22 billion, a P/E ratio of 17.88, a PEG ratio of -1.44 and a beta of 0.49.

IG Group (LON:IGG) last posted its quarterly earnings results on Thursday, March 19th. The company reported GBX 196.66 EPS for the quarter. IG Group had a return on equity of 20.91% and a net margin of 35.26%. As a group, research analysts forecast that IG Group Holdings plc will post 104.0295119 EPS for the current year.

IG Group announced that its board has approved a share buyback plan on Wednesday, April 1st that allows the company to buyback 0 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

IG Group Company Profile

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.