IG Group (LON:IGG) Earns Buy Rating from Peel Hunt

Key Points

• Peel Hunt has reissued a "buy" rating for IG Group (LON:IGG), setting a target price of GBX 340, indicating a potential downside of 68.19% from current levels.
• Other firms have also boosted target prices significantly, with Royal Bank Of Canada raising theirs from GBX 1,150 to GBX 1,275, reflecting positive market sentiment.
• Insider buying activity is notable, with Breon Corcoran purchasing over 61,000 shares recently, suggesting confidence in the company’s future performance.

IG Group (LON:IGG - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at Peel Hunt in a research report issued to clients and investors on Thursday,Digital Look reports. They currently have a GBX 340 target price on the stock. Peel Hunt's target price would suggest a potential downside of 68.19% from the company's current price.

A number of other research firms also recently weighed in on IGG. Royal Bank Of Canada boosted their target price on IG Group from GBX 1,150 to GBX 1,275 and gave the stock an "outperform" rating in a research report on Thursday, August 14th. Jefferies Financial Group restated a "buy" rating and set a GBX 1,250 target price on shares of IG Group in a research report on Friday, September 26th. Shore Capital reaffirmed a "buy" rating and set a GBX 1,250 target price on shares of IG Group in a report on Thursday, September 25th. Finally, Deutsche Bank Aktiengesellschaft upped their target price 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. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, IG Group presently has a consensus rating of "Buy" and an average target price of GBX 1,309.14.

IG Group Price Performance

IGG stock traded down GBX 2 during trading on Thursday, hitting GBX 1,069. The company had a trading volume of 101,717,156 shares, compared to its average volume of 2,590,929. The company has a fifty day moving average price of GBX 1,112.68 and a two-hundred day moving average price of GBX 1,080.78. The company has a current ratio of 2.47, a quick ratio of 2.40 and a debt-to-equity ratio of 17.04. IG Group has a fifty-two week low of GBX 860 and a fifty-two week high of GBX 1,165. The company has a market cap of £3.70 billion, a P/E ratio of 1,017.13, a P/E/G ratio of -1.44 and a beta of 0.55.

IG Group (LON:IGG - Get Free Report) last issued 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%. Equities research analysts expect 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 repurchase plan on Thursday, September 4th that allows the company to repurchase 0 shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at IG Group

In other IG Group news, insider Breon Corcoran bought 61,499 shares of the firm's stock in a transaction on Wednesday, October 1st. The stock was purchased at an average cost of GBX 1,075 per share, with a total value of £661,114.25. Also, insider Wu Gang bought 5,576 shares of the firm's stock in a transaction on Monday, October 6th. The stock was acquired at an average cost of GBX 1,071 per share, with a total value of £59,718.96. Over the last ninety days, insiders acquired 85,576 shares of company stock valued at $91,889,391. Company insiders own 1.13% of the company's stock.

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.

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