IG Group (LON:IGG) Stock Crosses Above 200-Day Moving Average – Time to Sell?

IG Group Holdings plc (LON:IGG) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 1,536.24 and traded as high as GBX 1,791. IG Group shares last traded at GBX 1,773, with a volume of 649,316 shares.

Analyst Upgrades and Downgrades

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

IG Group Trading Down 1.7%

The business’s 50-day moving average price is GBX 1,804.22 and its 200 day moving average price is GBX 1,537.68. 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 firm has a market capitalization of £5.76 billion, a price-to-earnings ratio of 16.58, a PEG ratio of -1.44 and a beta of 0.53.

IG Group announced that its board has initiated a stock buyback program on Wednesday, April 1st that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

About IG Group

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.