IG Group (LON:IGG) Share Price Passes Above 200 Day Moving Average – What’s Next?

IG Group Holdings plc (LON:IGG) crossed 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 trading hands.

Analyst Upgrades and Downgrades

IGG has been the topic of several recent research reports. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 1,250 price objective on shares of IG Group in a report on Wednesday, May 20th. Royal Bank Of Canada raised their target price on shares of IG Group from GBX 1,600 to GBX 1,850 and gave the company an “outperform” rating in a report on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of IG Group from GBX 1,650 to GBX 1,750 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, IG Group currently has a consensus rating of “Buy” and a consensus target price of GBX 1,288.

IG Group Stock Up 0.2%

The company has a quick ratio of 2.40, a current ratio of 215.53 and a debt-to-equity ratio of 31.16. The company has a 50 day simple moving average of GBX 1,823.52 and a two-hundred day simple moving average of GBX 1,551.98. The company has a market capitalization of £5.63 billion, a P/E ratio of 16.22, a PEG ratio of -1.44 and a beta of 0.53.

IG Group announced that its board has authorized a stock buyback plan on Wednesday, April 1st that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

About IG Group

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.