IG Group (LON:IGG) Shares Cross Above 200-Day Moving Average – Time to Sell?

IG Group Holdings plc (LON:IGG)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,361.68 and traded as high as GBX 1,853. IG Group shares last traded at GBX 1,812, with a volume of 1,153,850 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have commented on IGG shares. Royal Bank Of Canada upped their price objective on shares of IG Group from GBX 1,600 to GBX 1,850 and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 1,250 price target on shares of IG Group in a report on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of IG Group from GBX 1,650 to GBX 1,750 and gave the company a “buy” rating in a report on Wednesday, May 20th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat, IG Group has an average rating of “Buy” and an average price target of GBX 1,256.50.

IG Group Price Performance

The stock’s fifty day moving average price is GBX 1,549.46 and its 200-day moving average price is GBX 1,369.54. The company has a debt-to-equity ratio of 30.81, a quick ratio of 2.40 and a current ratio of 3.43. The firm has a market cap of £5.94 billion, a PE ratio of 17.08, a P/E/G ratio of -1.44 and a beta of 0.49.

IG Group (LON:IGG) last announced its quarterly earnings results on Thursday, March 19th. The company reported GBX 196.66 earnings per share (EPS) for the quarter. IG Group had a net margin of 35.26% and a return on equity of 20.91%. As a group, equities analysts forecast that IG Group Holdings plc will post 104.0295119 EPS for the current fiscal year.

IG Group declared that its Board of Directors has initiated a share buyback plan on Wednesday, April 1st that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign 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.