IG Group (LON:IGG) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

IG Group Holdings plc (LON:IGG) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 1,391.58 and traded as high as GBX 1,852. IG Group shares last traded at GBX 1,843, with a volume of 637,610 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on IGG shares. Royal Bank Of Canada boosted their price target on shares of IG Group from GBX 1,600 to GBX 1,850 and gave the company an “outperform” rating in a research report on Wednesday, May 20th. Jefferies Financial Group restated a “buy” rating and set a GBX 1,250 price target on shares of IG Group in a research report on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of IG Group from GBX 1,650 to GBX 1,750 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat, IG Group has an average rating of “Buy” and an average target price of GBX 1,288.

IG Group Price Performance

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 has a market capitalization of £6.12 billion, a PE ratio of 17.60, a PEG ratio of -1.44 and a beta of 0.49. The business has a fifty day moving average price of GBX 1,580.38 and a 200-day moving average price of GBX 1,391.58.

IG Group (LON:IGG) last posted its quarterly 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%. Research analysts expect that IG Group Holdings plc will post 104.0295119 EPS for the current fiscal year.

IG Group announced that its board has authorized a stock repurchase program on Wednesday, April 1st that allows the company to repurchase 0 shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign 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.