Zacks Research Upgrades Interactive Brokers Group (NASDAQ:IBKR) to Strong-Buy

Interactive Brokers Group (NASDAQ:IBKR) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other equities research analysts also recently commented on IBKR. Barclays lifted their target price on shares of Interactive Brokers Group from $93.00 to $108.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. China Renaissance began coverage on Interactive Brokers Group in a report on Tuesday, July 7th. They issued a “hold” rating for the company. Wolfe Research started coverage on Interactive Brokers Group in a research note on Monday, June 8th. They issued an “outperform” rating and a $101.00 target price for the company. Jefferies Financial Group lowered their price objective on shares of Interactive Brokers Group from $91.00 to $81.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Finally, Bank of America lifted their target price on Interactive Brokers Group from $83.00 to $106.00 and gave the company a “buy” rating in a research report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $93.89.

Interactive Brokers Group Stock Performance

Interactive Brokers Group stock opened at $92.21 on Wednesday. The stock has a market capitalization of $156.42 billion, a P/E ratio of 39.75, a price-to-earnings-growth ratio of 2.26 and a beta of 1.33. Interactive Brokers Group has a 52 week low of $58.80 and a 52 week high of $97.84. The stock has a fifty day moving average of $89.31 and a 200-day moving average of $78.40.

Interactive Brokers Group (NASDAQ:IBKR) last posted its earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. Interactive Brokers Group had a net margin of 9.65% and a return on equity of 5.19%. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the previous year, the firm posted $1.94 earnings per share. The company’s revenue was up 17.0% on a year-over-year basis. On average, research analysts forecast that Interactive Brokers Group will post 2.51 earnings per share for the current year.

Insider Activity at Interactive Brokers Group

In other news, Director Lawrence E. Harris sold 26,000 shares of Interactive Brokers Group stock in a transaction on 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 completion of the sale, the director directly owned 173,482 shares of the company’s stock, valued at approximately $13,345,970.26. The trade was a 13.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Interactive Brokers Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Interactive Brokers Group in the fourth quarter valued at about $453,146,000. Orbis Allan Gray Ltd raised its holdings in Interactive Brokers Group by 178.8% in the second quarter. Orbis Allan Gray Ltd now owns 9,740,072 shares of the financial services provider’s stock worth $539,697,000 after purchasing an additional 6,246,715 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Interactive Brokers Group by 225.4% during the second quarter. Bank of America Corp DE now owns 7,594,906 shares of the financial services provider’s stock valued at $420,834,000 after purchasing an additional 5,260,923 shares during the last quarter. State Street Corp boosted its stake in Interactive Brokers Group by 23.2% in the 3rd quarter. State Street Corp now owns 18,648,758 shares of the financial services provider’s stock worth $1,283,221,000 after purchasing an additional 3,517,729 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Interactive Brokers Group by 44.1% during the 4th quarter. Invesco Ltd. now owns 8,288,379 shares of the financial services provider’s stock valued at $533,026,000 after purchasing an additional 2,534,772 shares during the last quarter. 23.80% of the stock is currently owned by institutional investors.

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.