Interactive Brokers Group (NASDAQ:IBKR) Hits New 1-Year High on Analyst Upgrade

Interactive Brokers Group, Inc. (NASDAQ:IBKR)’s share price hit a new 52-week high during trading on Wednesday after Piper Sandler raised their price target on the stock from $45.50 to $65.00. Piper Sandler currently has an overweight rating on the stock. Interactive Brokers Group traded as high as $60.35 and last traded at $59.63, with a volume of 6050380 shares. The stock had previously closed at $59.60.

IBKR has been the subject of a number of other research reports. The Goldman Sachs Group upped their price target on Interactive Brokers Group from $53.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Barclays restated an “overweight” rating and set a $65.00 target price on shares of Interactive Brokers Group in a report on Thursday, July 10th. Wall Street Zen upgraded shares of Interactive Brokers Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 21st. Bank of America reduced their price objective on shares of Interactive Brokers Group from $66.25 to $60.75 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Finally, Citigroup raised their price objective on Interactive Brokers Group from $53.75 to $60.00 and gave the company a “buy” rating in a report on Monday, July 7th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.38.

Institutional Investors Weigh In On Interactive Brokers Group

Institutional investors have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Interactive Brokers Group by 151.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 261 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 157 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in Interactive Brokers Group by 6.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 17,008 shares of the financial services provider’s stock worth $3,005,000 after purchasing an additional 990 shares during the period. Rovida Investment Management Ltd acquired a new stake in Interactive Brokers Group during the fourth quarter worth about $17,652,000. Orion Portfolio Solutions LLC bought a new position in Interactive Brokers Group in the 4th quarter valued at about $242,000. Finally, New Age Alpha Advisors LLC bought a new position in Interactive Brokers Group in the 4th quarter valued at about $10,888,000. Institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Trading Up 0.1%

The firm’s 50-day moving average price is $52.93 and its 200 day moving average price is $49.05. The company has a market capitalization of $100.80 billion, a price-to-earnings ratio of 32.28, a PEG ratio of 2.75 and a beta of 1.25.

Interactive Brokers Group (NASDAQ:IBKR) last posted its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.37 billion. Interactive Brokers Group had a return on equity of 4.97% and a net margin of 9.53%. As a group, equities research analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current fiscal year.

About Interactive Brokers Group

Interactive Brokers Group, Inc operates as an automated electronic broker worldwide. The company engages in the execution, clearance, and settlement of trades in stocks, options, futures, foreign exchange instruments, bonds, mutual funds, exchange traded funds (ETFs), precious metals, and cryptocurrencies.