IG Group (LON:IGG) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

IG Group Holdings plc (LON:IGG)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 1,391.58 and traded as high as GBX 1,852. IG Group shares last traded at GBX 1,843, with a volume of 637,610 shares traded.

Analyst Ratings Changes

Several analysts have weighed in on IGG shares. Jefferies Financial Group reissued a “buy” rating and issued a GBX 1,250 price target on shares of IG Group in a research note on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of IG Group from GBX 1,650 to GBX 1,750 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Finally, Royal Bank Of Canada boosted their price target on shares of IG Group from GBX 1,600 to GBX 1,850 and gave the stock an “outperform” rating in a research note on Wednesday, May 20th. Five analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of GBX 1,288.

IG Group Trading Up 0.4%

The stock has a market capitalization of £6.12 billion, a P/E ratio of 17.60, a P/E/G ratio of -1.44 and a beta of 0.49. The firm’s 50 day moving average price is GBX 1,580.38 and its 200 day moving average price is GBX 1,391.58. The company has a debt-to-equity ratio of 31.16, a current ratio of 215.53 and a quick ratio of 2.40.

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

IG Group declared that its board has initiated a share buyback program on Wednesday, April 1st that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

IG Group Company Profile

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.