ITV (LON:ITV) Trading Up 15% – Time to Buy?

ITV plc (LON:ITV) shares were up 15% during mid-day trading on Friday . The stock traded as high as GBX 81.35 and last traded at GBX 77.88. Approximately 47,380,695 shares changed hands during mid-day trading, an increase of 152% from the average daily volume of 18,833,127 shares. The stock had previously closed at GBX 67.70.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. cut their target price on shares of ITV from GBX 112 to GBX 105 and set an “overweight” rating for the company in a research note on Friday. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, ITV currently has an average rating of “Buy” and a consensus price target of GBX 105.

ITV Stock Performance

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

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.