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

IG Group Holdings plc (LON:IGG) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,361.68 and traded as high as GBX 1,853. IG Group shares last traded at GBX 1,812, with a volume of 1,153,850 shares.

Analyst Ratings Changes

A number of research firms have weighed in on IGG. Royal Bank Of Canada boosted 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. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 1,250 target price on shares of IG Group in a research note on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft boosted 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. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of GBX 1,448.43.

IG Group Stock Performance

The company has a quick ratio of 2.40, a current ratio of 3.43 and a debt-to-equity ratio of 30.81. The company has a market cap of £6.00 billion, a P/E ratio of 17.24, a PEG ratio of -1.44 and a beta of 0.49. The firm’s 50 day moving average is GBX 1,532.14 and its two-hundred day moving average is GBX 1,361.68.

IG Group (LON:IGG) last issued its quarterly earnings data on Thursday, March 19th. The company reported GBX 196.66 earnings per share for the quarter. IG Group had a net margin of 35.26% and a return on equity of 20.91%. As a group, equities research analysts anticipate that IG Group Holdings plc will post 104.0295119 EPS for the current year.

IG Group announced that its Board of Directors has authorized a stock repurchase program on Wednesday, April 1st that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

About IG Group

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.