IG Group (LON:IGG) Sets New 1-Year High – Time to Buy?

IG Group Holdings plc (LON:IGG)’s stock price hit a new 52-week high on Monday . The company traded as high as GBX 1,956 and last traded at GBX 1,936, with a volume of 1193776 shares traded. The stock had previously closed at GBX 1,938.

Analysts Set New Price Targets

Several analysts have recently issued reports 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. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of IG Group from GBX 1,650 to GBX 1,750 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Finally, Jefferies Financial Group reissued a “buy” rating and set a GBX 1,250 target price on shares of IG Group in a report on Wednesday, May 20th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, IG Group has a consensus rating of “Buy” and an average price target of GBX 1,288.

IG Group Stock Down 0.1%

The company has a market cap of £6.40 billion, a PE ratio of 18.42, a P/E/G ratio of -1.44 and a beta of 0.53. The stock has a 50-day moving average of GBX 1,633.26 and a 200-day moving average of GBX 1,426.74. The company has a quick ratio of 2.40, a current ratio of 215.53 and a debt-to-equity ratio of 31.16.

IG Group (LON:IGG) last announced its earnings results on Thursday, March 19th. The company reported GBX 196.66 earnings per share for the quarter. IG Group had a return on equity of 26.63% and a net margin of 43.07%. Sell-side analysts predict that IG Group Holdings plc will post 104.0295119 earnings per share for the current fiscal year.

IG Group declared that its board has approved a share buyback program on Wednesday, April 1st that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are 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.