IG Group Holdings plc (LON:IGG) Given Average Recommendation of "Buy" by Brokerages

Key Points

• IG Group Holdings plc has received a consensus rating of "Buy" from six brokerages, with an average 12-month target price of GBX 1,470.67.
• The company recently approved a share buyback plan, indicating that the board believes its stock is currently undervalued.
• Insider purchases are notable, with Breon Corcoran acquiring 61,499 shares at an average price of GBX 1,075, reflecting insider confidence in the company's future performance.

IG Group Holdings plc (LON:IGG - Get Free Report) has been given a consensus rating of "Buy" by the six brokerages that are currently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have issued a report on the stock in the last year is GBX 1,470.67.

IGG has been the subject of a number of research reports. Royal Bank Of Canada upped their target price on shares of IG Group from GBX 1,150 to GBX 1,275 and gave the stock an "outperform" rating in a report on Thursday, August 14th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of 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 reaffirmed a "buy" rating and issued a GBX 1,250 target price on shares of IG Group in a research report on Thursday, September 25th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a GBX 1,250 target price on shares of IG Group in a research report on Friday, September 26th.

IG Group Price Performance

IG Group stock opened at GBX 1,077 on Monday. IG Group has a 52-week low of GBX 860 and a 52-week high of GBX 1,165. The firm has a market capitalization of £3.73 billion, a price-to-earnings ratio of 1,024.74, a PEG ratio of -1.44 and a beta of 0.55. The company has a fifty day simple moving average of GBX 1,115.96 and a 200-day simple moving average of GBX 1,079.94. The company has a quick ratio of 2.40, a current ratio of 2.47 and a debt-to-equity ratio of 17.04.

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 (EPS) for the quarter. IG Group had a net margin of 58.42% and a return on equity of 30.53%. On average, equities analysts anticipate that IG Group will post 104.0295119 EPS for the current fiscal year.

IG Group declared that its board has approved a share buyback plan on Thursday, September 4th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at IG Group

In other IG Group news, insider Breon Corcoran purchased 61,499 shares of IG Group stock in a transaction dated Wednesday, October 1st. The shares were acquired at an average price of GBX 1,075 per share, with a total value of £661,114.25. Also, insider Clifford Abrahams purchased 5,000 shares of IG Group stock in a transaction dated Tuesday, September 30th. The shares were acquired at an average cost of GBX 1,072 per share, for a total transaction of £53,600. Insiders have purchased 85,576 shares of company stock valued at $91,889,391 over the last 90 days. 1.13% of the stock is owned by insiders.

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.

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