TP ICAP Group (LON:TCAP) Hits New 12-Month High – Still a Buy?

TP ICAP Group PLC (LON:TCAP)’s share price hit a new 52-week high during trading on Monday . The company traded as high as GBX 349.87 and last traded at GBX 349.87, with a volume of 228210 shares changing hands. The stock had previously closed at GBX 346.60.

Analysts Set New Price Targets

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

TP ICAP Group Price Performance

The company has a debt-to-equity ratio of 49.55, a current ratio of 30.33 and a quick ratio of 0.97. The business’s fifty day moving average price is GBX 324.71 and its 200-day moving average price is GBX 285.77. The stock has a market capitalization of £2.56 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 0.49 and a beta of 0.36.

TP ICAP Group declared that its board has initiated a share repurchase plan on Thursday, March 12th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

About TP ICAP Group