IG Group (LON:IGG) Receives Buy Rating from Jefferies Financial Group

IG Group (LON:IGG)‘s stock had its “buy” rating reissued by equities researchers at Jefferies Financial Group in a research note issued to investors on Wednesday,London Stock Exchange reports. They presently have a GBX 1,250 price objective on the stock. Jefferies Financial Group’s price objective suggests a potential downside of 28.49% from the company’s current price.

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

IG Group Trading Up 0.3%

Shares of IG Group stock opened at GBX 1,748 on Wednesday. IG Group has a 12-month low of GBX 1,016 and a 12-month high of GBX 1,781. The stock has a market capitalization of £5.79 billion, a P/E ratio of 16.63, a price-to-earnings-growth ratio of -1.44 and a beta of 0.49. The company has a 50-day simple moving average of GBX 1,474.46 and a 200 day simple 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 (LON:IGG) last issued its quarterly earnings data on Thursday, March 19th. The company reported GBX 196.66 earnings per share (EPS) for the quarter. IG Group had a return on equity of 20.91% and a net margin of 35.26%. Research analysts expect that IG Group will post 104.0295119 earnings per share for the current fiscal year.

IG Group declared that its Board of Directors has initiated a stock buyback plan on Wednesday, April 1st that allows the company to repurchase 0 shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are 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.