IG Design Group (LON:IGR) Stock Price Crosses Below 200 Day Moving Average - Here's What Happened

Key Points

• IG Design Group plc's stock price fell below its 200-day moving average of GBX 65.26, trading at GBX 60.75 ($0.82) during recent trading.
• Canaccord Genuity Group has initiated coverage with a "buy" rating and a price target of GBX 120 ($1.62) for IG Design Group shares.
• The company has a market capitalization of £58.88 million and a P/E ratio of 2.04, indicating potential value for investors.

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 65.26 ($0.89) and traded as low as GBX 60.26 ($0.82). IG Design Group shares last traded at GBX 60.75 ($0.82), with a volume of 32,392 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group began coverage on IG Design Group in a research note on Tuesday, July 29th. They set a "buy" rating and a GBX 120 ($1.63) target price on the stock.

IG Design Group Stock Performance

The firm has a market cap of £59.81 million, a PE ratio of 2.07 and a beta of 1.08. The company has a debt-to-equity ratio of 35.81, a current ratio of 1.88 and a quick ratio of 0.85. The company has a 50 day simple moving average of GBX 76.12 and a 200-day simple moving average of GBX 65.31.

IG Design Group Company Profile

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.