ITV (LON:ITV) Trading 16.6% Higher – Here’s Why

Shares of ITV plc (LON:ITV) rose 16.6% during trading on Friday . The stock traded as high as GBX 81.35 and last traded at GBX 78.95. Approximately 2,147,000,000 shares were traded during trading, an increase of 7,431% from the average daily volume of 28,508,791 shares. The stock had previously closed at GBX 67.70.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reduced their target price on shares of ITV from GBX 112 to GBX 105 and set an “overweight” rating on the stock in a research report on Friday. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of GBX 105.

ITV Price Performance

The company has a debt-to-equity ratio of 46.00, a quick ratio of 0.83 and a current ratio of 1.56. The firm has a market capitalization of £2.91 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of -0.53 and a beta of 1.44. The company has a 50-day moving average of GBX 76.57 and a 200-day moving average of GBX 79.07.

ITV Company Profile

ITV is a vertically integrated producer broadcaster and streamer, consisting of ITV Studios and Media & Entertainment.

ITV Studios is a scaled and global creator, owner and distributor of high-quality TV content. It operates in 12 countries, across 60+ labels and has a global distribution network.