IG Design Group (LON:IGR) Stock Crosses Below 200-Day Moving Average - Time to Sell?

Key Points

• IG Design Group plc has crossed below its 200-day moving average, with recent trading at GBX 57 ($0.76), indicating a potential concern for investors.
• Wall Street analysts have provided a buy rating for the stock, with Canaccord Genuity setting a target price of GBX 120, contrasting its current trading levels.
• The company holds a market cap of £56.23 million and operates globally, supplying products to over 210,000 retail outlets, including major retailers like Walmart and Amazon.

IG Design Group plc (LON:IGR - Get Free Report) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 64.68 ($0.86) and traded as low as GBX 57 ($0.76). IG Design Group shares last traded at GBX 57 ($0.76), with a volume of 54,619 shares trading hands.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group assumed coverage on shares of IG Design Group in a research note on Tuesday, July 29th. They issued a "buy" rating and a GBX 120 target price for the company. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, IG Design Group has a consensus rating of "Buy" and an average target price of GBX 120.

IG Design Group Trading Up 3.5%

The company has a market cap of £56.23 million, a price-to-earnings ratio of -56.41 and a beta of 1.08. The company's fifty day moving average price is GBX 61.09 and its two-hundred day moving average price is GBX 64.68. The company has a quick ratio of 0.85, a current ratio of 1.88 and a debt-to-equity ratio of 35.81.

About IG Design Group

IG Design Group plc, the largest consumer gift packaging business in the world, is a designer, innovator and manufacturer of products that help people celebrate life's special occasions. Design Group works with more than 11,000 customers in over 80 countries throughout the UK, Europe, Australia and the USA. Its products are found in over 210,000 retail outlets, including several of the world's biggest retailers, for example Walmart, Target, Amazon, Costco, Lidl and Aldi.

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