Royal Bank Of Canada Forecasts Strong Price Appreciation for IG Group (LON:IGG) Stock

IG Group (LON:IGG) had its price target increased by investment analysts at Royal Bank Of Canada from GBX 1,600 to GBX 1,850 in a research note issued to investors on Wednesday,Digital Look reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 4.23% from the stock’s current price.

IG Group Price Performance

IGG stock opened at GBX 1,775 on Wednesday. The stock has a 50-day moving average price of GBX 1,474.46 and a two-hundred day moving average price of GBX 1,331.75. IG Group has a 12-month low of GBX 1,016 and a 12-month high of GBX 1,781. The company has a current ratio of 3.43, a quick ratio of 2.40 and a debt-to-equity ratio of 30.81. The company has a market cap of £5.87 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of -1.44 and a beta of 0.49.

IG Group (LON:IGG) last posted its quarterly earnings results 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%. As a group, research analysts predict that IG Group will post 104.0295119 EPS for the current year.

IG Group declared that its board has approved a stock buyback program on Wednesday, April 1st that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

About IG Group

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.