Interactive Brokers Group, Inc. (IBKR) Upgraded by Zacks Investment Research to Buy
Interactive Brokers Group, Inc. (NASDAQ:IBKR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The brokerage currently has a $42.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.18% from the company’s current price.
According to Zacks, “Interactive Brokers’ shares have outperformed the Zacks categorized Investment Brokers industry over the last three months. Going forward, the company plans to focus on strengthening its Electronic Brokerage segment. Notably, in May, the company announced a deal to divest its U.S. options-market-making business. While low level of compensation expenses relative to net revenue remains a major catalyst for the company, the restructuring effort is expected to lead to near-term rise in severance and other costs related to segment closure.”
Other equities research analysts have also recently issued reports about the stock. BidaskClub raised shares of Interactive Brokers Group from a “hold” rating to a “buy” rating in a report on Thursday. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $41.00 target price on shares of Interactive Brokers Group in a report on Wednesday, April 12th. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $38.00 target price on shares of Interactive Brokers Group in a report on Tuesday, April 4th. ValuEngine raised shares of Interactive Brokers Group from a “sell” rating to a “hold” rating in a report on Thursday, June 8th. Finally, Wells Fargo & Company cut shares of Interactive Brokers Group from a “market perform” rating to an “underperform” rating in a report on Monday, April 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Interactive Brokers Group currently has a consensus rating of “Hold” and an average target price of $39.00.
Interactive Brokers Group (IBKR) traded down 0.21% during trading on Monday, hitting $37.36. The company had a trading volume of 92,194 shares. The firm’s 50 day moving average is $35.98 and its 200-day moving average is $36.52. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 34.31 and a beta of 0.93. Interactive Brokers Group has a 52-week low of $31.97 and a 52-week high of $39.68.
Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings results on Tuesday, April 18th. The financial services provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by $0.05. Interactive Brokers Group had a net margin of 5.45% and a return on equity of 1.28%. The company had revenue of $374 million during the quarter, compared to analysts’ expectations of $396.98 million. During the same period last year, the firm earned $0.51 earnings per share. Interactive Brokers Group’s revenue was down 23.5% on a year-over-year basis. On average, equities analysts forecast that Interactive Brokers Group will post $1.43 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 14th. Stockholders of record on Thursday, June 1st were issued a $0.10 dividend. The ex-dividend date was Tuesday, May 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.07%. Interactive Brokers Group’s payout ratio is 36.04%.
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Several large investors have recently made changes to their positions in IBKR. Elkfork Partners LLC boosted its stake in shares of Interactive Brokers Group by 42.1% in the first quarter. Elkfork Partners LLC now owns 3,564 shares of the financial services provider’s stock worth $124,000 after buying an additional 1,056 shares during the last quarter. Meadow Creek Investment Management LLC boosted its stake in shares of Interactive Brokers Group by 42.1% in the first quarter. Meadow Creek Investment Management LLC now owns 4,536 shares of the financial services provider’s stock worth $158,000 after buying an additional 1,344 shares during the last quarter. Glen Harbor Capital Management LLC boosted its stake in shares of Interactive Brokers Group by 42.1% in the first quarter. Glen Harbor Capital Management LLC now owns 5,508 shares of the financial services provider’s stock worth $191,000 after buying an additional 1,632 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Interactive Brokers Group during the first quarter worth approximately $203,000. Finally, BlueCrest Capital Management Ltd acquired a new stake in shares of Interactive Brokers Group during the first quarter worth approximately $224,000. 14.34% of the stock is owned by institutional investors and hedge funds.
About Interactive Brokers Group
Interactive Brokers Group, Inc (IBG, Inc) is a holding company. The Company is an automated global electronic broker and market maker specializing in routing orders, and executing and processing trades in securities, futures, foreign exchange instruments, bonds and mutual funds on over 120 electronic exchanges and market centers around the world and offering custody, prime brokerage, securities and margin lending services to customers.
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