IG Group Holdings plc (LON:IGG) Receives Consensus Rating of “Buy” from Brokerages

Shares of IG Group Holdings plc (LON:IGG) have been assigned a consensus rating of “Buy” from the seven research firms that are presently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is GBX 1,384.14.

Separately, Royal Bank Of Canada increased their target price on shares of IG Group from GBX 1,600 to GBX 1,850 and gave the stock an “outperform” rating in a report on Wednesday.

IG Group Stock Performance

IG Group stock opened at GBX 1,778 on Wednesday. The company has a current ratio of 3.43, a quick ratio of 2.40 and a debt-to-equity ratio of 30.81. The firm has a 50-day moving average of GBX 1,474.46 and a 200-day moving average of GBX 1,331.75. The firm has a market cap of £5.88 billion, a P/E ratio of 16.92, a P/E/G ratio of -1.44 and a beta of 0.49. IG Group has a 1-year low of GBX 1,016 and a 1-year high of GBX 1,781.

IG Group (LON:IGG) last posted its earnings results on Thursday, March 19th. The company reported GBX 196.66 earnings per share for the quarter. IG Group had a net margin of 35.26% and a return on equity of 20.91%. Sell-side analysts expect that IG Group will post 104.0295119 EPS for the current year.

IG Group announced that its board has authorized a share buyback program on Wednesday, April 1st that permits the company to buyback 0 shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

About IG Group

IG Group Holdings plc (“IG”) is a FTSE 100 financial technology company operating at the intersection of retail trading, technology and capital markets. Through its trusted brands – IG, tastytrade, Freetrade and Independent Reserve – the Group serves over 1.3 million customers worldwide, providing leveraged trading, stock trading and investments, and cryptocurrency trading via its proprietary platforms. For more information, visit www.iggroup.com.