Interactive Brokers Group (NASDAQ:IBKR) Stock Price Target Cut by BMO Capital Markets

Interactive Brokers Group (NASDAQ:IBKR) had its price objective cut by analysts at BMO Capital Markets from $110.00 to $105.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. BMO Capital Markets’ price objective points to a potential upside of 19.67% from the stock’s previous close.

Other research analysts have also issued reports about the company. Weiss Ratings lowered Interactive Brokers Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. Zacks Research cut Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 24th. UBS Group downgraded Interactive Brokers Group from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $50.00 to $102.00 in a report on Tuesday, September 1st. Piper Sandler set a $109.00 price objective on shares of Interactive Brokers Group in a research report on Wednesday, July 22nd. Finally, China Renaissance assumed coverage on shares of Interactive Brokers Group in a research note on Tuesday, July 7th. They issued a “hold” rating for the company. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $99.92.

Interactive Brokers Group Stock Down 3.1%

Interactive Brokers Group stock opened at $87.74 on Tuesday. Interactive Brokers Group has a 12 month low of $58.95 and a 12 month high of $98.75. The stock has a market cap of $149.28 billion, a P/E ratio of 35.10, a P/E/G ratio of 1.61 and a beta of 1.37. The company’s fifty day simple moving average is $90.62 and its 200-day simple moving average is $86.30.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.05. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.80 billion. Interactive Brokers Group had a return on equity of 5.37% and a net margin of 9.94%.Interactive Brokers Group’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same period last year, the company earned $0.51 earnings per share. On average, equities research analysts expect that Interactive Brokers Group will post 2.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Interactive Brokers Group

A number of hedge funds have recently bought and sold shares of IBKR. Reflection Asset Management bought a new position in shares of Interactive Brokers Group in the fourth quarter worth about $26,000. IMA Advisory Services Inc. boosted its stake in Interactive Brokers Group by 64.3% during the 4th quarter. IMA Advisory Services Inc. now owns 455 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 178 shares during the period. Tobam acquired a new stake in Interactive Brokers Group in the 4th quarter valued at approximately $30,000. SHP Wealth Management acquired a new stake in Interactive Brokers Group in the 4th quarter valued at approximately $31,000. Finally, Wealth Enhancement Trust Services Inc. grew its holdings in Interactive Brokers Group by 1,217.2% in the 3rd quarter. Wealth Enhancement Trust Services Inc. now owns 382 shares of the financial services provider’s stock valued at $33,000 after buying an additional 353 shares during the last quarter. 23.80% of the stock is currently owned by institutional investors.

About Interactive Brokers Group

Interactive Brokers Group, Inc is a global electronic brokerage company that provides trading, investment and custody services to individual investors, financial advisors, hedge funds, proprietary trading firms, family offices and other institutional clients. The company offers access to a broad range of markets and financial instruments, including stocks, options, futures, currencies, bonds, exchange-traded funds and mutual funds.

Interactive Brokers provides its services through digital platforms such as Trader Workstation, IBKR Mobile and Client Portal, along with application programming interfaces for clients seeking automated or integrated trading capabilities.