IG Group (LON:IGG) Stock Price Crosses Above 50-Day Moving Average of $539.84

IG Group Holdings plc (LON:IGG)’s stock price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $539.84 and traded as high as $583.60. IG Group shares last traded at $577.80, with a volume of 1,438,320 shares changing hands.

IGG has been the subject of several analyst reports. Barclays dropped their target price on shares of IG Group from GBX 860 ($11.24) to GBX 780 ($10.19) and set an “overweight” rating for the company in a research report on Friday, March 22nd. Liberum Capital restated a “hold” rating on shares of IG Group in a research report on Thursday, March 21st. Shore Capital restated a “buy” rating on shares of IG Group in a research report on Thursday, May 30th. Peel Hunt restated a “buy” rating on shares of IG Group in a research report on Thursday, March 21st. Finally, Numis Securities cut shares of IG Group to an “add” rating and set a GBX 657 ($8.58) target price for the company. in a research report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of GBX 694.71 ($9.08).

The business has a 50-day moving average of GBX 542.99. The company has a market cap of $2.12 billion and a price-to-earnings ratio of 10.34. The company has a debt-to-equity ratio of 12.17, a current ratio of 3.81 and a quick ratio of 3.73.

About IG Group (LON:IGG)

IG Group Holdings plc provides leveraged derivatives and spread betting under the IG brand worldwide. Its CFDs (contracts for difference) are derivatives contracts that enable clients to take advantage of changes in an asset's price. The company also offers clients access to a range of risk-mitigation measures, including stops and limits and a limited risk account; and products, such as share dealing and investment portfolios, as well as enables clients to hold their investments in ISAs and SIPPs.

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