IG Group (LON:IGG) Hits New 52-Week High - Here's What Happened

Key Points

• IG Group's share price reached a new 52-week high at GBX 1,157 ($15.62) during trading, indicating strong investor interest in the stock.
• Analysts maintain a positive outlook with multiple buy ratings and varying price targets, the highest being GBX 2,600 set by Berenberg Bank.
• The company reported an EPS of GBX 114.10 for the latest quarter, reflecting a net margin of 58.42% and a return on equity of 30.53%.

IG Group Holdings plc (LON:IGG - Get Free Report)'s stock price hit a new 52-week high on Thursday . The company traded as high as GBX 1,157 ($15.62) and last traded at GBX 1,151 ($15.54), with a volume of 1809246 shares traded. The stock had previously closed at GBX 1,152 ($15.56).

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on IGG. 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 research report on Thursday, August 14th. Canaccord Genuity Group upped their target price on shares of IG Group from GBX 782 to GBX 1,099 and gave the stock a "buy" rating in a research report on Friday, May 30th. Shore Capital restated a "buy" rating and set a GBX 1,200 target price on shares of IG Group in a research report on Thursday, July 24th. Berenberg Bank restated a "buy" rating and set a GBX 2,600 target price on shares of IG Group in a research report on Thursday, May 29th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of IG Group from GBX 1,225 to GBX 1,350 and gave the stock a "buy" rating in a research report on Friday, August 8th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of GBX 1,504.80.

IG Group Trading Down 1.0%

The company has a market cap of £3.89 billion, a PE ratio of 1,064.70, a P/E/G ratio of -1.44 and a beta of 0.55. The stock's 50 day moving average is GBX 1,104.58 and its 200-day moving average is GBX 1,048.43. 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 quarterly 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%. As a group, sell-side analysts anticipate that IG Group Holdings plc will post 104.0295119 EPS for the current year.

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.