IG Group (LON:IGG) Share Price Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• The share price of IG Group crossed above its 200-day moving average, indicating potential shifts in market momentum, as it last traded at GBX 1,132 ($15.21).
• Analysts have given the stock multiple upgrades, with Royal Bank Of Canada increasing its price target to GBX 1,275 and Deutsche Bank raising it to GBX 1,350, both maintaining a "buy" rating.
• IG Group initiated a share repurchase program on September 4th, which is often a sign that management believes the stock is undervalued.

IG Group Holdings plc (LON:IGG - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 1,051.46 ($14.18) and traded as high as GBX 1,134 ($15.30). IG Group shares last traded at GBX 1,132 ($15.27), with a volume of 698,380 shares trading hands.

Analysts Set New Price Targets

Several brokerages have recently commented on IGG. Canaccord Genuity Group lifted their target price on IG Group from GBX 782 to GBX 1,099 and gave the stock a "buy" rating in a research note on Friday, May 30th. Deutsche Bank Aktiengesellschaft raised their price target on IG Group from GBX 1,225 to GBX 1,350 and gave the company a "buy" rating in a report on Friday, August 8th. Royal Bank Of Canada upped their price objective on shares of IG Group from GBX 1,150 to GBX 1,275 and gave the company an "outperform" rating in a report on Thursday, August 14th. Shore Capital reissued a "buy" rating and issued a GBX 1,200 price objective on shares of IG Group in a research report on Thursday, July 24th. Finally, Berenberg Bank reaffirmed a "buy" rating and set a GBX 2,600 target price on shares of IG Group in a report on Thursday, May 29th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat, IG Group has a consensus rating of "Buy" and a consensus target price of GBX 1,504.80.

IG Group Trading Up 0.4%

The firm's fifty day simple moving average is GBX 1,110.24 and its 200 day simple moving average is GBX 1,054.07. The stock has a market capitalization of £3.95 billion, a P/E ratio of 1,081.83, a price-to-earnings-growth ratio of -1.44 and a beta of 0.55. The company has a debt-to-equity ratio of 17.04, a quick ratio of 2.40 and a current ratio of 2.47.

IG Group (LON:IGG - Get Free Report) last posted 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, equities research analysts forecast that IG Group Holdings plc will post 104.0295119 EPS for the current fiscal year.

IG Group announced that its Board of Directors has authorized a share buyback plan on Thursday, September 4th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is 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.