IG Group Holdings plc (LON:IGG) Given Consensus Recommendation of "Buy" by Analysts

Key Points

• IG Group Holdings plc has received an average rating of "Buy" from six brokerages, with a twelve-month price target average of GBX 1,462.33.
• The stock recently experienced a 2.5% decline, opening at GBX 1,098, and has a market capitalization of £3.82 billion.
• IG Group has initiated a share buyback plan to repurchase shares, indicating confidence from its leadership in the stock's valuation.

IG Group Holdings plc (LON:IGG - Get Free Report) has been given a consensus rating of "Buy" by the six research firms that are covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have covered the stock in the last year is GBX 1,462.33.

Several equities analysts have recently weighed in on IGG shares. Deutsche Bank Aktiengesellschaft boosted their target price on IG Group from GBX 1,225 to GBX 1,350 and gave the company a "buy" rating in a research report on Friday, August 8th. Shore Capital restated a "buy" rating and set a GBX 1,200 price objective on shares of IG Group in a report on Thursday, July 24th. Berenberg Bank restated a "buy" rating and set a GBX 2,600 price objective on shares of IG Group in a report on Thursday, May 29th. Canaccord Genuity Group boosted their price objective on IG Group from GBX 782 to GBX 1,099 and gave the company a "buy" rating in a report on Friday, May 30th. Finally, Jefferies Financial Group restated a "buy" rating and set a GBX 1,250 price objective on shares of IG Group in a report on Thursday.

IG Group Trading Down 2.9%

Shares of LON IGG traded down GBX 32 during trading hours on Thursday, hitting GBX 1,074. 1,877,411 shares of the company traded hands, compared to its average volume of 2,223,539. The stock has a market capitalization of £3.74 billion, a price-to-earnings ratio of 1,021.88, a price-to-earnings-growth ratio of -1.44 and a beta of 0.55. The company has a current ratio of 2.47, a quick ratio of 2.40 and a debt-to-equity ratio of 17.04. The company's 50 day moving average price is GBX 1,122.67 and its 200 day moving average price is GBX 1,065.19. IG Group has a 12 month low of GBX 860 and a 12 month high of GBX 1,165.

IG Group (LON:IGG - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported GBX 114.10 earnings per share for the quarter. IG Group had a return on equity of 30.53% and a net margin of 58.42%. On average, equities research analysts anticipate that IG Group will post 104.0295119 earnings per share for the current fiscal year.

IG Group declared that its board has initiated a share buyback plan on Thursday, September 4th that allows the company to buyback 0 shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

IG Group Company Profile

IG Group LSEG: IGG is an innovative, global fintech company that delivers dynamic online trading platforms and a robust educational ecosystem to power the pursuit of financial freedom for the ambitious. For nearly five decades, the Company has evolved its technology, risk management, financial products, content, and platforms to meet the needs of its retail and institutional clients.