ICG Group Rating Increased to Neutral at Zacks (ICGE)
ICG Group (NASDAQ:ICGE) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, Stock Ratings News reports. The firm currently has a $19.10 price objective on the stock. Zacks‘ target price indicates a potential upside of 2.52% from the stock’s previous close.
ICG Group (NASDAQ:ICGE) traded up 4.43% during mid-day trading on Wednesday, hitting $18.63. The stock had a trading volume of 262,192 shares. ICG Group has a one year low of $10.33 and a one year high of $18.81. The stock’s 50-day moving average is $17.42 and its 200-day moving average is $14.59. The company has a market cap of $677.3 million and a price-to-earnings ratio of 27.53.
ICG Group (NASDAQ:ICGE) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.08) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.03 by $0.11. The company had revenue of $16.07 million for the quarter, compared to the consensus estimate of $54.10 million. During the same quarter in the prior year, the company posted $0.59 earnings per share.
Several other analysts have also recently commented on the stock. Analysts at Northland Securities reiterated an “outperform” rating on shares of ICG Group in a research note to investors on Friday, October 4th. They now have a $20.00 price target on the stock, up previously from $16.00. They noted that the move was a valuation call. Analysts at Northland Capital Partners raised their price target on shares of ICG Group from $16.00 to $20.00 in a research note to investors on Friday, October 4th. They now have an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $18.78.
ICG Group, Inc (NASDAQ:ICGE), formerly Internet Capital Group, Inc, acquires and builds Internet software and services companies.
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