TP ICAP Group (LON:TCAP) Share Price Passes Above 50-Day Moving Average – Time to Sell?

Shares of TP ICAP Group PLC (LON:TCAP) passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of GBX 324.71 and traded as high as GBX 348. TP ICAP Group shares last traded at GBX 346.60, with a volume of 820,331 shares traded.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 415 price target on shares of TP ICAP Group in a research note on Monday, June 8th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of GBX 365.25.

TP ICAP Group Trading Up 0.3%

The company has a current ratio of 30.33, a quick ratio of 0.97 and a debt-to-equity ratio of 49.55. The stock has a market capitalization of £2.53 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 0.49 and a beta of 0.38. The business has a 50 day simple moving average of GBX 324.71 and a 200-day simple moving average of GBX 285.54.

TP ICAP Group declared that its Board of Directors has authorized a stock buyback program on Thursday, March 12th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

About TP ICAP Group