IG Design Group (LON:IGR) Stock Passes Above 50 Day Moving Average – Should You Sell?

IG Design Group plc (LON:IGR)’s share price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of GBX 78.44 and traded as high as GBX 84.89. IG Design Group shares last traded at GBX 81, with a volume of 666,317 shares.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group restated a “buy” rating and set a GBX 150 target price on shares of IG Design Group in a research note on Tuesday, June 16th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, IG Design Group currently has an average rating of “Buy” and a consensus target price of GBX 150.

IG Design Group Price Performance

The stock’s 50-day moving average is GBX 78.44 and its 200-day moving average is GBX 62.32. The firm has a market cap of £76.55 million, a P/E ratio of -0.69 and a beta of 0.75. The company has a quick ratio of 0.85, a current ratio of 3.03 and a debt-to-equity ratio of 33.47.

IG Design Group (LON:IGR) last issued its quarterly earnings results on Tuesday, June 16th. The company reported GBX 5.60 earnings per share for the quarter. The firm had revenue of £217.87 million during the quarter. IG Design Group had a negative net margin of 1.00% and a negative return on equity of 2.17%. As a group, equities analysts anticipate that IG Design Group plc will post 16.1507402 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider S Anders Hedlund purchased 16,642,640 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were purchased at an average cost of GBX 88 per share, for a total transaction of £14,645,523.20. Also, insider Clare Askem purchased 21,276 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was purchased at an average cost of GBX 94 per share, with a total value of £19,999.44. Insiders have purchased 16,766,294 shares of company stock valued at $1,475,518,662 in the last quarter. 21.41% of the stock is currently owned by insiders.

About IG Design Group

IG Design Group plc, the largest consumer gift packaging business in the world, is a designer, innovator and manufacturer of products that help people celebrate life’s special occasions. Design Group works with more than 11,000 customers in over 80 countries throughout the UK, Europe, Australia and the USA.

Its products are found in over 210,000 retail outlets, including several of the world’s biggest retailers, for example Walmart, Target, Amazon, Costco, Lidl and Aldi.

Its five major product categories are: Celebrations, Craft, Stationery and Creative Play, Gifting, and Not-for-resale consumables.