IG Group (LON:IGG) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• IG Group Holdings plc shares have recently crossed above their 200-day moving average, reaching a high of GBX 1,157 ($15.62) during trading.
• Several analysts have increased their price targets for IG Group, with a consensus target price of GBX 1,504.80 and a majority rating of "Buy."
• The company's latest quarterly earnings showed an EPS of GBX 114.10, contributing to a strong return on equity of 30.53% and a net margin of 58.42%.

Shares of IG Group Holdings plc (LON:IGG - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,045.59 ($14.00) and traded as high as GBX 1,157 ($15.50). IG Group shares last traded at GBX 1,151 ($15.42), with a volume of 1,809,246 shares trading hands.

Analyst Upgrades and Downgrades

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

IG Group Trading Down 1.3%

The firm has a market capitalization of £3.84 billion, a price-to-earnings ratio of 1,050.43, a P/E/G ratio of -1.44 and a beta of 0.55. The company has a debt-to-equity ratio of 17.04, a current ratio of 2.47 and a quick ratio of 2.40. The firm's 50-day simple moving average is GBX 1,106.46 and its 200 day simple moving average is GBX 1,049.87.

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