ITV (LON:ITV) Trading 18.2% Higher – Time to Buy?

Shares of ITV plc (LON:ITV) rose 18.2% during mid-day trading on Friday . The company traded as high as GBX 81.35 and last traded at GBX 80.05. Approximately 217,350,656 shares traded hands during mid-day trading, an increase of 1,008% from the average daily volume of 19,616,398 shares. The stock had previously closed at GBX 67.70.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lowered their price objective on shares of ITV from GBX 112 to GBX 105 and set an “overweight” rating for the company in a research note on Friday. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of GBX 105.

ITV Stock Performance

The company’s 50-day moving average price is GBX 76.50 and its 200 day moving average price is GBX 79.09. The stock has a market capitalization of £2.91 billion, a PE ratio of 15.89, a PEG ratio of -0.53 and a beta of 1.44. The company has a debt-to-equity ratio of 46.00, a quick ratio of 0.83 and a current ratio of 1.56.

ITV Company Profile

ITV is a vertically integrated producer broadcaster and streamer, consisting of ITV Studios and Media & Entertainment.

ITV Studios is a scaled and global creator, owner and distributor of high-quality TV content. It operates in 12 countries, across 60+ labels and has a global distribution network.