IG Group (LON:IGG) Earns “Buy” Rating from Jefferies Financial Group

IG Group (LON:IGG)‘s stock had its “buy” rating reissued by stock analysts at Jefferies Financial Group in a report released on Wednesday,London Stock Exchange reports. They currently have a GBX 1,250 price objective on the stock. Jefferies Financial Group’s target price would indicate a potential downside of 28.49% from the stock’s current price.

Several other analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price target on IG Group from GBX 1,650 to GBX 1,750 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank Of Canada raised their price objective on IG Group from GBX 1,600 to GBX 1,850 and gave the company an “outperform” rating in a research note on Wednesday. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, IG Group has an average rating of “Buy” and an average price target of GBX 1,448.43.

IG Group Price Performance

IGG opened at GBX 1,748 on Wednesday. The firm has a market capitalization of £5.79 billion, a P/E ratio of 16.63, a PEG ratio of -1.44 and a beta of 0.49. The stock has a fifty day moving average of GBX 1,474.46 and a 200-day moving average of GBX 1,331.75. The company has a quick ratio of 2.40, a current ratio of 3.43 and a debt-to-equity ratio of 30.81. IG Group has a 12-month low of GBX 1,016 and a 12-month high of GBX 1,781.

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

IG Group declared that its Board of Directors has approved a share repurchase plan on Wednesday, April 1st that permits the company to repurchase 0 shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

IG Group Company Profile

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.