BMO Capital Markets Issues Pessimistic Forecast for Interactive Brokers Group (NASDAQ:IBKR) Stock Price

Key Points

• BMO Capital Markets lowered its price target for Interactive Brokers Group from $110 to $105 while maintaining an “outperform” rating, implying approximately 17.9% upside from the stock’s $89.05 opening price.
• Analyst sentiment remains broadly positive: IBKR has a “Moderate Buy” consensus rating and an average price target of $99.45, although ratings range from Strong Buy to Hold.
• Interactive Brokers exceeded quarterly expectations, reporting $0.69 in earnings per share versus a $0.64 consensus estimate and $1.88 billion in revenue, up 28.1% year over year.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) had its target price lowered by analysts at BMO Capital Markets from $110.00 to $105.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. BMO Capital Markets' target price points to a potential upside of 17.91% from the stock's current price.

IBKR has been the subject of a number of other research reports. UBS Group lowered shares of Interactive Brokers Group from a "buy" rating to a "neutral" rating and raised their price objective for the company from $50.00 to $102.00 in a report on Tuesday, September 1st. China Renaissance assumed coverage on shares of Interactive Brokers Group in a research note on Tuesday, July 7th. They set a "hold" rating for the company. The Goldman Sachs Group reissued a "buy" rating and issued a $111.00 price objective on shares of Interactive Brokers Group in a research report on Thursday. Barclays set a $114.00 price objective on shares of Interactive Brokers Group and gave the stock an "overweight" rating in a research report on Wednesday, July 22nd. Finally, Raymond James Financial assumed coverage on Interactive Brokers Group in a research note on Wednesday, August 26th. They issued a "market perform" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $99.45.

Interactive Brokers Group Stock Performance

Shares of IBKR opened at $89.05 on Tuesday. Interactive Brokers Group has a 52-week low of $58.95 and a 52-week high of $98.75. The firm has a market cap of $151.51 billion, a price-to-earnings ratio of 35.62, a PEG ratio of 1.63 and a beta of 1.37. The business's fifty day moving average is $90.60 and its 200-day moving average is $86.00.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.64 by $0.05. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.80 billion. Interactive Brokers Group had a return on equity of 5.37% and a net margin of 9.94%.The business's quarterly revenue was up 28.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 earnings per share. As a group, research analysts forecast that Interactive Brokers Group will post 2.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Interactive Brokers Group

A number of institutional investors and hedge funds have recently bought and sold shares of IBKR. Fiduciary Financial Group LLC increased its holdings in Interactive Brokers Group by 3.1% during the 2nd quarter. Fiduciary Financial Group LLC now owns 3,968 shares of the financial services provider's stock worth $345,000 after purchasing an additional 118 shares during the period. Gamco Investors INC. ET AL increased its holdings in Interactive Brokers Group by 0.9% in the first quarter. Gamco Investors INC. ET AL now owns 17,475 shares of the financial services provider's stock valued at $1,172,000 after buying an additional 150 shares during the last quarter. Sumitomo Life Insurance Co. boosted its position in shares of Interactive Brokers Group by 0.3% during the 4th quarter. Sumitomo Life Insurance Co. now owns 58,550 shares of the financial services provider's stock worth $3,765,000 after acquiring an additional 170 shares in the last quarter. IMA Advisory Services Inc. boosted its holdings in Interactive Brokers Group by 64.3% in the fourth quarter. IMA Advisory Services Inc. now owns 455 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 178 shares in the last quarter. Finally, Meadowbrook Advisors Group LLC lifted its position in shares of Interactive Brokers Group by 5.4% during the 1st quarter. Meadowbrook Advisors Group LLC now owns 4,052 shares of the financial services provider's stock worth $272,000 after buying an additional 207 shares during the last quarter. 23.80% of the stock is owned by hedge funds and other institutional investors.

About Interactive Brokers Group

Interactive Brokers Group, Inc is a global electronic brokerage company that provides trading, investment and custody services to individual investors, financial advisors, hedge funds, proprietary trading firms, family offices and other institutional clients. The company offers access to a broad range of markets and financial instruments, including stocks, options, futures, currencies, bonds, exchange-traded funds and mutual funds.

Interactive Brokers provides its services through digital platforms such as Trader Workstation, IBKR Mobile and Client Portal, along with application programming interfaces for clients seeking automated or integrated trading capabilities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.