TP ICAP Group (LON:TCAP) Shares Cross Below Fifty Day Moving Average – Here’s Why

Shares of TP ICAP Group PLC (LON:TCAP) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of GBX 265.01 and traded as low as GBX 244.50. TP ICAP Group shares last traded at GBX 245, with a volume of 642,958 shares traded.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Shore Capital reissued a “buy” rating and issued a GBX 335 price objective on shares of TP ICAP Group in a research note on Wednesday, November 5th. Canaccord Genuity Group lifted their price target on TP ICAP Group from GBX 326 to GBX 374 and gave the company a “buy” rating in a research note on Thursday, July 31st. Finally, Peel Hunt reaffirmed a “buy” rating and issued a GBX 337 price objective on shares of TP ICAP Group in a research note on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of GBX 348.67.

TP ICAP Group Trading Down 1.4%

The stock’s 50-day moving average price is GBX 265.01 and its 200-day moving average price is GBX 273.04. The stock has a market cap of £1.80 billion, a price-to-earnings ratio of 10.73, a P/E/G ratio of 0.49 and a beta of 0.65.

TP ICAP Group announced that its Board of Directors has approved a share buyback plan on Wednesday, August 6th 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 plans are typically a sign that the company’s management believes its stock is undervalued.

TP ICAP Group Company Profile