Interactive Brokers Group (NASDAQ:IBKR) Rating Increased to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Interactive Brokers Group from “hold” to “strong-buy,” adding to an already bullish analyst backdrop. Across Wall Street, the stock now carries an average rating of “Moderate Buy” with an average price target of $93.89.
• Several firms raised their price targets on IBKR, including Bank of America, Barclays, Piper Sandler, and BMO Capital Markets. The analyst estimates cited in the article ranged from $93 to $108 per share.
• Interactive Brokers recently beat earnings expectations, reporting $0.60 EPS versus $0.57 expected, while revenue rose 17% year over year to $1.68 billion. Shares opened at $92.21, near their 52-week high of $97.84.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Wednesday,Zacks.com reports.

A number of other research analysts have also weighed in on the company. Bank of America increased their price objective on Interactive Brokers Group from $83.00 to $106.00 and gave the company a "buy" rating in a report on Tuesday. The Goldman Sachs Group set a $98.00 target price on Interactive Brokers Group in a report on Friday, May 1st. Piper Sandler set a $105.00 target price on Interactive Brokers Group and gave the company an "overweight" rating in a research report on Wednesday. Barclays increased their price target on shares of Interactive Brokers Group from $93.00 to $108.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Finally, BMO Capital Markets raised their price target on shares of Interactive Brokers Group from $80.00 to $93.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Interactive Brokers Group presently has an average rating of "Moderate Buy" and an average price target of $93.89.

Interactive Brokers Group Price Performance

Shares of IBKR opened at $92.21 on Wednesday. The company's fifty day moving average price is $89.31 and its 200-day moving average price is $78.40. Interactive Brokers Group has a 1-year low of $58.80 and a 1-year high of $97.84. The firm has a market capitalization of $156.42 billion, a PE ratio of 39.75, a price-to-earnings-growth ratio of 2.26 and a beta of 1.33.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.03. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the business posted $1.94 EPS. The firm's quarterly revenue was up 17.0% on a year-over-year basis. As a group, research analysts anticipate that Interactive Brokers Group will post 2.51 EPS for the current fiscal year.

Insider Buying and Selling at Interactive Brokers Group

In related news, Director Lawrence E. Harris sold 26,000 shares of the business's stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the transaction, the director directly owned 173,482 shares in the company, valued at approximately $13,345,970.26. The trade was a 13.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.80% of the company's stock.

Institutional Trading of Interactive Brokers Group

A number of hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC boosted its holdings in shares of Interactive Brokers Group by 24.7% during the 1st quarter. AQR Capital Management LLC now owns 13,704 shares of the financial services provider's stock worth $2,269,000 after purchasing an additional 2,713 shares during the last quarter. Brown Advisory Inc. increased its holdings in shares of Interactive Brokers Group by 307.9% in the second quarter. Brown Advisory Inc. now owns 14,497 shares of the financial services provider's stock valued at $803,000 after purchasing an additional 10,943 shares during the last quarter. Cerity Partners LLC acquired a new stake in shares of Interactive Brokers Group in the second quarter valued at approximately $318,000. Daiwa Securities Group Inc. increased its holdings in shares of Interactive Brokers Group by 291.2% in the second quarter. Daiwa Securities Group Inc. now owns 35,600 shares of the financial services provider's stock valued at $1,973,000 after purchasing an additional 26,500 shares during the last quarter. Finally, AXA S.A. lifted its position in Interactive Brokers Group by 128.1% during the second quarter. AXA S.A. now owns 12,816 shares of the financial services provider's stock worth $710,000 after buying an additional 7,197 shares in the last quarter. Institutional investors and hedge funds own 23.80% of the company's stock.

Interactive Brokers Group Company Profile

Interactive Brokers Group, Inc NASDAQ: IBKR is a global electronic brokerage holding company that provides trading, clearing and custody services to retail traders, institutional investors, proprietary trading groups and financial advisors. The firm offers direct access to a wide range of asset classes, including equities, options, futures, foreign exchange, bonds and exchange-traded funds across many international markets. Interactive Brokers emphasizes electronic order execution, automated trading and low transaction costs as core differentiators for its clients.

Its product suite centers on advanced trading platforms and infrastructure.

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