IG Group (LON:IGG) Receives Buy Rating from Shore Capital

Key Points

• IG Group's stock has received a "buy" rating from Shore Capital with a target price of GBX 1,250, indicating an 18.90% potential upside from its previous close.
• Overall, six research analysts maintain a "buy" rating for IG Group, with a consensus target price of GBX 1,470.67.
• The company has initiated a stock repurchase plan, suggesting that management believes its shares are undervalued.

IG Group (LON:IGG - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at Shore Capital in a note issued to investors on Thursday,Digital Look reports. They presently have a GBX 1,250 target price on the stock. Shore Capital's price objective suggests a potential upside of 18.90% from the company's previous close.

Several other research analysts have also commented on the company. Berenberg Bank restated a "buy" rating and set a GBX 2,600 price target on shares of IG Group in a research report on Thursday, May 29th. Royal Bank Of Canada raised their price target 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. Deutsche Bank Aktiengesellschaft raised their price target on 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. Jefferies Financial Group restated a "buy" rating and set a GBX 1,250 price target on shares of IG Group in a research report on Thursday, September 18th. Finally, Canaccord Genuity Group raised their price target on IG Group from GBX 782 to GBX 1,099 and gave the stock a "buy" rating in a research report on Friday, May 30th. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of GBX 1,470.67.

IG Group Trading Down 0.8%

Shares of IG Group stock opened at GBX 1,051.33 on Thursday. The firm has a market capitalization of £3.66 billion, a price-to-earnings ratio of 1,000.31, a PEG ratio of -1.44 and a beta of 0.55. 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 debt-to-equity ratio of 17.04, a quick ratio of 2.40 and a current ratio of 2.47. The stock has a 50 day moving average of GBX 1,123.03 and a 200 day moving average of GBX 1,068.83.

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 for the quarter. IG Group had a return on equity of 30.53% and a net margin of 58.42%. As a group, research analysts predict that IG Group will post 104.0295119 earnings per share for the current year.

IG Group announced that its Board of Directors has initiated a stock repurchase plan on Thursday, September 4th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.