IG Group (LON:IGG) Reaches New 52-Week High – Time to Buy?

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

Wall Street Analysts Forecast Growth

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

IG Group Stock Up 0.1 %

The company has a market cap of £3.29 billion, a price-to-earnings ratio of 1,174.36, a PEG ratio of -1.44 and a beta of 0.55. The company has a current ratio of 2.31, a quick ratio of 2.40 and a debt-to-equity ratio of 17.04. The business has a fifty day moving average of GBX 929.50 and a two-hundred day moving average of GBX 873.77.

Insider Buying and Selling

In other news, insider Breon Corcoran bought 40,000 shares of IG Group stock in a transaction on Monday, September 23rd. The stock was acquired at an average price of GBX 916 ($11.92) per share, with a total value of £366,400 ($476,959.13). 4.44% of the stock is currently owned by insiders.

About IG Group

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.