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

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

Analyst Ratings Changes

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

ITV Price Performance

The company’s 50 day simple moving average is GBX 76.50 and its 200 day simple moving average is GBX 79.09. The company has a current ratio of 1.56, a quick ratio of 0.83 and a debt-to-equity ratio of 46.00. The stock has a market capitalization of £2.94 billion, a PE ratio of 16.05, a PEG ratio of -0.53 and a beta of 1.44.

About ITV

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.