IG Group (LON:IGG) Reaches New 1-Year High – Still a Buy?

Shares of IG Group Holdings plc (LON:IGG) reached a new 52-week high on Tuesday . The company traded as high as GBX 1,890 and last traded at GBX 1,885.54, with a volume of 5593520 shares traded. The stock had previously closed at GBX 1,844.

Analyst Ratings Changes

A number of analysts have weighed in on IGG shares. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 1,250 target price on shares of IG Group in a research note on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft increased their target price on IG Group from GBX 1,650 to GBX 1,750 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Finally, Royal Bank Of Canada increased their target price on IG Group from GBX 1,600 to GBX 1,850 and gave the stock an “outperform” rating in a research note on Wednesday, May 20th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of GBX 1,288.

IG Group Stock Performance

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 business has a 50 day simple moving average of GBX 1,614.04 and a two-hundred day simple moving average of GBX 1,414.11. The firm has a market cap of £6.29 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of -1.44 and a beta of 0.53.

IG Group (LON:IGG) last posted 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 return on equity of 26.63% and a net margin of 43.07%. As a group, equities research analysts forecast that IG Group Holdings plc will post 104.0295119 earnings per share for the current fiscal year.

IG Group declared that its board has initiated a share repurchase program on Wednesday, April 1st that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are 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.