Interactive Brokers Group (NASDAQ:IBKR) Stock Price Expected to Rise, Bank of America Analyst Says

Key Points

• Bank of America raised its price target on Interactive Brokers Group to $106 from $83 and kept a buy rating, implying about 11% upside from the current price.
• The stock has been getting generally positive analyst coverage, with the overall consensus at Moderate Buy and an average price target of $92.
• Interactive Brokers recently reported Q1 EPS of $0.60, beating estimates, while revenue rose 17% year over year; the stock was also trading near its 52-week high after a 2% gain.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) had its price target lifted by analysts at Bank of America from $83.00 to $106.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the financial services provider's stock. Bank of America's price target would suggest a potential upside of 11.05% from the company's current price.

Other equities analysts have also issued reports about the company. Keefe, Bruyette & Woods started coverage on Interactive Brokers Group in a research note on Wednesday, April 8th. They set a "market perform" rating and a $75.00 price target for the company. Wolfe Research assumed coverage on Interactive Brokers Group in a report on Monday, June 8th. They set an "outperform" rating and a $101.00 price objective on the stock. China Renaissance began coverage on Interactive Brokers Group in a research report on Tuesday, July 7th. They set a "hold" rating for the company. Jefferies Financial Group lowered their target price on Interactive Brokers Group from $91.00 to $81.00 and set a "buy" rating for the company in a research report on Monday, April 6th. Finally, Weiss Ratings downgraded shares of Interactive Brokers Group from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $92.00.

Interactive Brokers Group Stock Up 2.0%

NASDAQ IBKR traded up $1.89 on Tuesday, reaching $95.45. The company had a trading volume of 181,632 shares, compared to its average volume of 4,926,764. The stock has a market capitalization of $161.92 billion, a PE ratio of 41.13, a price-to-earnings-growth ratio of 2.60 and a beta of 1.33. The firm's 50 day moving average price is $88.70 and its 200 day moving average price is $77.78. Interactive Brokers Group has a 12 month low of $58.18 and a 12 month high of $97.84.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.69 billion. Interactive Brokers Group had a net margin of 9.65% and a return on equity of 5.19%. The business's quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.94 EPS. On average, research analysts expect that Interactive Brokers Group will post 2.46 EPS for the current year.

Insiders Place Their Bets

In related news, Director Lawrence E. Harris sold 26,000 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the sale, the director owned 173,482 shares in the company, valued at approximately $13,345,970.26. This represents a 13.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IBKR. AQR Capital Management LLC boosted its stake 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 period. Brown Advisory Inc. lifted its stake in 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 worth $803,000 after purchasing an additional 10,943 shares during the last quarter. Cerity Partners LLC purchased a new position in shares of Interactive Brokers Group during the second quarter valued at approximately $318,000. Daiwa Securities Group Inc. boosted its position in shares of Interactive Brokers Group by 291.2% during 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 buying an additional 26,500 shares during the period. Finally, AXA S.A. grew its stake in shares of 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 valued at $710,000 after buying an additional 7,197 shares during the last quarter. Institutional investors 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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