Royal Bank Of Canada Forecasts Strong Price Appreciation for IG Group (LON:IGG) Stock

IG Group (LON:IGG) had its price target boosted by stock analysts at Royal Bank Of Canada from GBX 1,600 to GBX 1,850 in a research note issued on Wednesday,Digital Look reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price points to a potential upside of 4.23% from the stock’s current price.

IG Group Trading Up 1.9%

Shares of IGG opened at GBX 1,775 on Wednesday. The company has a debt-to-equity ratio of 30.81, a current ratio of 3.43 and a quick ratio of 2.40. The firm has a 50 day simple moving average of GBX 1,474.46 and a 200-day simple moving average of GBX 1,331.75. IG Group has a 1-year low of GBX 1,016 and a 1-year high of GBX 1,781. The stock has a market cap of £5.87 billion, a price-to-earnings ratio of 16.89, a price-to-earnings-growth ratio of -1.44 and a beta of 0.49.

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%. Equities analysts forecast that IG Group will post 104.0295119 EPS for the current fiscal year.

IG Group declared that its Board of Directors has authorized a share repurchase program on Wednesday, April 1st that allows the company to buyback 0 outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership 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.