IG Group (LON:IGG) Hits New 12-Month High - What's Next?

IG Group Holdings plc (LON:IGG - Get Free Report)'s share price reached a new 52-week high during trading on Friday . The company traded as high as £916 ($1,192.40) and last traded at GBX 916 ($11.92), with a volume of 544343 shares. The stock had previously closed at GBX 915 ($11.91).

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IGG. Shore Capital restated a "buy" rating on shares of IG Group in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a GBX 1,065 ($13.86) price objective on shares of IG Group in a report on Wednesday, August 14th. Finally, Royal Bank of Canada lifted their target price on IG Group from GBX 1,000 ($13.02) to GBX 1,100 ($14.32) and gave the stock an "outperform" rating in a research report on Thursday, August 1st. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of GBX 986.75 ($12.84).

IG Group Price Performance

The company's 50 day simple moving average is GBX 930.62 and its two-hundred day simple moving average is GBX 872.42. The company has a debt-to-equity ratio of 17.04, a current ratio of 2.31 and a quick ratio of 2.40. The stock has a market capitalization of £3.29 billion, a P/E ratio of 1,173.08, a PEG ratio of -1.44 and a beta of 0.55.

Insider Activity at IG Group

In other IG Group news, insider Breon Corcoran purchased 40,000 shares of the business's stock in a transaction that occurred on Monday, September 23rd. The stock was acquired at an average cost of GBX 916 ($11.92) per share, with a total value of £366,400 ($476,959.13). Insiders own 4.44% of the company's stock.

IG Group Company Profile

IG Group Holdings plc, a fintech company, engages in the online trading business worldwide. The company offers over the counter (OTC) derivatives, which include CFD (Contracts For Difference) that enable traders to take advantage of changes in an asset's price without owning the asset itself, as well as access to a range of risk-mitigation measures, including stops and limits, and negative-balance protection; and OTC FX and options, and spread bets, under IG and IG Prime brands.

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