IG Design Group (LON:IGR) Shares Cross Below 200 Day Moving Average – Here’s Why

IG Design Group plc (LON:IGR)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 65.35 ($0.89) and traded as low as GBX 58 ($0.79). IG Design Group shares last traded at GBX 58 ($0.79), with a volume of 62,286 shares traded.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group began coverage on shares of IG Design Group in a research report on Tuesday, July 29th. They issued a “buy” rating and a GBX 120 target price on the stock. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of GBX 195.

IG Design Group Stock Down 3.3%

The company’s 50-day moving average is GBX 69.73 and its 200 day moving average is GBX 65.35. The company has a market capitalization of £55.28 million, a PE ratio of -55.45 and a beta of 1.08. The company has a debt-to-equity ratio of 35.81, a quick ratio of 0.85 and a current ratio of 1.88.

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.