IG Group (LON:IGG) Receives "Buy" Rating from Jefferies Financial Group

Key Points

• Jefferies Financial Group has reaffirmed a "buy" rating for IG Group with a price target of GBX 1,250, indicating a potential upside of 13.74%.
• Multiple analysts have also rated IG Group positively, raising target prices to as high as GBX 2,600, while the average target price stands at GBX 1,462.33.
• IG Group announced a stock repurchase program, a sign that the Board believes the stock is undervalued, underlining its confidence in the company's future performance.

IG Group (LON:IGG - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at Jefferies Financial Group in a research note issued to investors on Thursday, MarketBeat.com reports. They currently have a GBX 1,250 price objective on the stock. Jefferies Financial Group's price target points to a potential upside of 16.39% from the company's previous close.

IGG has been the topic of several other research reports. Shore Capital reaffirmed a "buy" rating and issued a GBX 1,200 price target on shares of IG Group in a research note on Thursday, July 24th. Canaccord Genuity Group boosted their price target on IG Group from GBX 782 to GBX 1,099 and gave the company a "buy" rating in a research note on Friday, May 30th. Berenberg Bank reaffirmed a "buy" rating and issued a GBX 2,600 price target on shares of IG Group in a research note on Thursday, May 29th. Deutsche Bank Aktiengesellschaft boosted their price target on IG Group from GBX 1,225 to GBX 1,350 and gave the company a "buy" rating in a research note on Friday, August 8th. Finally, Royal Bank Of Canada boosted their price objective on IG Group from GBX 1,150 to GBX 1,275 and gave the stock an "outperform" rating in a research note on Thursday, August 14th. Six analysts have rated the stock with a Buy rating, According to MarketBeat.com, IG Group presently has an average rating of "Buy" and an average price target of GBX 1,462.33.

IG Group Stock Performance

Shares of IGG stock traded down GBX 32 during trading on Thursday, reaching GBX 1,074. The company had a trading volume of 1,877,411 shares, compared to its average volume of 2,223,539. The company has a debt-to-equity ratio of 17.04, a current ratio of 2.47 and a quick ratio of 2.40. The firm's 50 day simple moving average is GBX 1,122.67 and its two-hundred day simple moving average is GBX 1,066.01. The company has a market capitalization of £3.74 billion, a PE ratio of 1,021.88, a PEG ratio of -1.44 and a beta of 0.55. IG Group has a one year low of GBX 860 and a one year high of GBX 1,165.

IG Group (LON:IGG - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported GBX 114.10 earnings per share (EPS) for the quarter. IG Group had a return on equity of 30.53% and a net margin of 58.42%. Sell-side analysts forecast that IG Group will post 104.0295119 earnings per share for the current year.

IG Group declared that its board has authorized a stock repurchase program on Thursday, September 4th that permits the company to buyback 0 shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

About IG Group

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.