IG Group (LON:IGG) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

IG Group Holdings plc (LON:IGG)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 1,551.98 and traded as high as GBX 1,723. IG Group shares last traded at GBX 1,705, with a volume of 381,489 shares.

Analysts Set New Price Targets

Several research firms have weighed in on IGG. Jefferies Financial Group reissued a “buy” rating and issued a GBX 1,250 price objective on shares of IG Group in a research report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft lifted their price target on 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. Finally, Royal Bank Of Canada increased 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. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of GBX 1,288.

IG Group Price Performance

The company has a market cap of £5.63 billion, a PE ratio of 16.22, a P/E/G ratio of -1.44 and a beta of 0.53. 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 firm has a 50 day moving average of GBX 1,823.52 and a two-hundred day moving average of GBX 1,551.98.

IG Group announced that its Board of Directors has approved a stock buyback program on Wednesday, April 1st that permits the company to repurchase 0 shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

IG Group Company Profile

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.