ITV (LON:ITV) Stock Price Up 15% – Still a Buy?

Shares of ITV plc (LON:ITV) rose 15% during trading on Saturday . The company traded as high as GBX 81.35 and last traded at GBX 77.88. Approximately 47,380,695 shares changed hands during mid-day trading, an increase of 152% from the average daily volume of 18,833,127 shares. The stock had previously closed at GBX 67.70.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. decreased their price objective on ITV from GBX 112 to GBX 105 and set an “overweight” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, ITV currently has an average rating of “Buy” and a consensus target price of GBX 105.

ITV Price Performance

The stock has a market cap of £2.95 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of -0.53 and a beta of 1.44. The company has a quick ratio of 0.83, a current ratio of 1.56 and a debt-to-equity ratio of 46.00. The company’s 50-day moving average is GBX 76.50 and its 200-day moving average is GBX 79.09.

About ITV

ITV is a vertically integrated producer broadcaster and streamer, consisting of ITV Studios and Media & Entertainment.

ITV Studios is a scaled and global creator, owner and distributor of high-quality TV content. It operates in 12 countries, across 60+ labels and has a global distribution network.