IG Group (LON:IGG) Hits New 12-Month High – What’s Next?

Shares of IG Group Holdings plc (LON:IGG) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 1,956 and last traded at GBX 1,936, with a volume of 1193776 shares. The stock had previously closed at GBX 1,938.

Analysts Set New Price Targets

IGG has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft increased their price objective on IG Group from GBX 1,650 to GBX 1,750 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Royal Bank Of Canada boosted their target price on 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. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 1,250 target price on shares of IG Group in a research note on Wednesday, May 20th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of GBX 1,288.

IG Group Stock Performance

The firm has a market cap of £6.40 billion, a P/E ratio of 18.42, a price-to-earnings-growth ratio of -1.44 and a beta of 0.53. The company has a current ratio of 215.53, a quick ratio of 2.40 and a debt-to-equity ratio of 31.16. The business’s fifty day simple moving average is GBX 1,633.26 and its 200-day simple moving average is GBX 1,426.74.

IG Group (LON:IGG) last issued its quarterly earnings data on Thursday, March 19th. The company reported GBX 196.66 EPS for the quarter. IG Group had a net margin of 43.07% and a return on equity of 26.63%. As a group, sell-side analysts expect that IG Group Holdings plc will post 104.0295119 earnings per share for the current year.

IG Group declared that its board has approved a share repurchase plan on Wednesday, April 1st that allows the company to buyback 0 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally 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.