ITV (LON:ITV) Trading Up 16% – What’s Next?

ITV plc (LON:ITV)’s stock price rose 16% during mid-day trading on Friday . The company traded as high as GBX 81.35 and last traded at GBX 78.50. Approximately 234,321,422 shares traded hands during mid-day trading, an increase of 1,090% from the average daily volume of 19,694,604 shares. The stock had previously closed at GBX 67.70.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reduced their target price on ITV from GBX 112 to GBX 105 and set an “overweight” rating on the stock in a report on Friday. Two investment 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 105.

ITV Price Performance

The company has a market capitalization of £2.91 billion, a price-to-earnings ratio of 15.89, a PEG ratio of -0.53 and a beta of 1.44. 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 company has a 50 day moving average price of GBX 76.57 and a 200 day moving average price of GBX 79.07.

ITV Company Profile

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.