IG Group (LON:IGG) Shares Pass Above 200 Day Moving Average - Here's Why

IG Group Holdings plc (LON:IGG - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 1,008.93 ($13.59) and traded as high as GBX 1,071 ($14.42). IG Group shares last traded at GBX 1,064.05 ($14.33), with a volume of 458,662 shares.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on IGG. Shore Capital reissued a "buy" rating on shares of IG Group in a research note on Thursday, March 13th. Canaccord Genuity Group upped their price objective on shares of IG Group from GBX 782 ($10.53) to GBX 1,099 ($14.80) and gave the stock a "buy" rating in a report on Friday, May 30th. Finally, Berenberg Bank reaffirmed a "buy" rating and issued a GBX 2,600 ($35.01) target price on shares of IG Group in a research report on Thursday, May 29th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of GBX 1,466 ($19.74).

IG Group Trading Up 0.4%

The company has a current ratio of 2.47, a quick ratio of 2.40 and a debt-to-equity ratio of 17.04. The stock has a market capitalization of £3.76 billion, a PE ratio of 7.07, a P/E/G ratio of -1.44 and a beta of 0.55. The stock has a 50 day moving average price of GBX 1,076.43 and a 200-day moving average price of GBX 1,010.31.

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.