IG Group (LON:IGG) Hits New 12-Month High – Time to Buy?

Shares of IG Group Holdings plc (LON:IGG) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as GBX 1,890 and last traded at GBX 1,885.54, with a volume of 5593520 shares trading hands. The stock had previously closed at GBX 1,844.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports 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 report on Wednesday, May 20th. Royal Bank Of Canada upped their target price 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. Finally, Deutsche Bank Aktiengesellschaft upped their target price 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. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of GBX 1,288.

IG Group Stock Performance

The stock has a market capitalization of £6.24 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of -1.44 and a beta of 0.53. The company has a current ratio of 215.53, a quick ratio of 2.40 and a debt-to-equity ratio of 31.16. The stock’s 50 day moving average is GBX 1,595.88 and its two-hundred day moving average is GBX 1,402.34.

IG Group (LON:IGG) last announced its earnings results on Thursday, March 19th. The company reported GBX 196.66 earnings per share for the quarter. IG Group had a net margin of 43.07% and a return on equity of 26.63%. 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 approved a share buyback program on Wednesday, April 1st that allows the company to buyback 0 shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is 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.