IG Group (LON:IGG) Reaches New 1-Year High - Should You Buy?

Key Points

• IG Group's stock reached a new 52-week high of GBX 1,158 ($15.67), with a trading volume of 526,653 shares.
• Several analysts have raised their price targets for IG Group, with a consensus target now at GBX 1,504.80, reflecting strong interest in the stock.
• The company's board has approved a share repurchase plan, indicating that they believe the stock is undervalued.

Shares of IG Group Holdings plc (LON:IGG - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 1,158 ($15.70) and last traded at GBX 1,157 ($15.69), with a volume of 526653 shares. The stock had previously closed at GBX 1,145 ($15.53).

Analyst Upgrades and Downgrades

IGG has been the topic of a number of research reports. 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. Shore Capital reiterated a "buy" rating and set a GBX 1,200 target price on shares of IG Group in a research report on Thursday, July 24th. 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. Royal Bank Of Canada boosted their price target on shares of 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. Finally, Berenberg Bank reaffirmed a "buy" rating and issued a GBX 2,600 target price on shares of IG Group in a research note on Thursday, May 29th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of GBX 1,504.80.

IG Group Trading Down 1.5%

The firm has a market cap of £3.97 billion, a P/E ratio of 1,084.68, a P/E/G ratio of -1.44 and a beta of 0.55. The business's 50-day moving average is GBX 1,118.96 and its two-hundred day moving average is GBX 1,061.06. The company has a debt-to-equity ratio of 17.04, a current ratio of 2.47 and a quick ratio of 2.40.

IG Group (LON:IGG - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported GBX 114.10 EPS for the quarter. IG Group had a net margin of 58.42% and a return on equity of 30.53%. As a group, analysts predict that IG Group Holdings plc will post 104.0295119 earnings per share for the current fiscal year.

IG Group announced that its Board of Directors has authorized a stock repurchase program on Thursday, September 4th that allows the company to repurchase 0 shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership 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.