IG Group (LON:IGG) Reaches New 1-Year High – Time to Buy?

IG Group Holdings plc (LON:IGG) shares reached a new 52-week high during trading on Friday . The stock traded as high as £916 ($1,192.40) and last traded at GBX 916 ($11.92), with a volume of 544343 shares trading hands. The stock had previously closed at GBX 915 ($11.91).

Analyst Ratings Changes

A number of analysts have recently commented on the company. Royal Bank of Canada boosted their price target on IG Group from GBX 1,000 ($13.02) to GBX 1,100 ($14.32) and gave the company an “outperform” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 1,065 ($13.86) target price on shares of IG Group in a research note on Wednesday, August 14th. Finally, Shore Capital reiterated a “buy” rating on shares of IG Group in a report on Thursday, July 25th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of GBX 986.75 ($12.84).

IG Group Price Performance

The stock has a market cap of £3.29 billion, a price-to-earnings ratio of 1,173.08, a price-to-earnings-growth ratio of -1.44 and a beta of 0.55. The company has a debt-to-equity ratio of 17.04, a quick ratio of 2.40 and a current ratio of 2.31. The company has a 50-day simple moving average of GBX 930.62 and a two-hundred day simple moving average of GBX 872.42.

Insider Transactions at IG Group

In other IG Group news, insider Breon Corcoran acquired 40,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was bought at an average cost of GBX 916 ($11.92) per share, with a total value of £366,400 ($476,959.13). 4.44% of the stock is owned by company insiders.

IG Group Company Profile

IG Group Holdings plc, a fintech company, engages in the online trading business worldwide. The company offers over the counter (OTC) derivatives, which include CFD (Contracts For Difference) that enable traders to take advantage of changes in an asset's price without owning the asset itself, as well as access to a range of risk-mitigation measures, including stops and limits, and negative-balance protection; and OTC FX and options, and spread bets, under IG and IG Prime brands.