ITV (LON:ITV) Shares Up 15% – Still a Buy?

ITV plc (LON:ITV)’s stock price rose 15% during mid-day trading on Saturday . The stock traded as high as GBX 81.35 and last traded at GBX 77.88. Approximately 47,380,695 shares were traded during trading, an increase of 152% from the average daily volume of 18,833,127 shares. The stock had previously closed at GBX 67.70.

Wall Street Analysts Forecast Growth

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

ITV Stock Performance

The business’s fifty day moving average price is GBX 76.50 and its two-hundred day moving average price is GBX 79.09. The company has a debt-to-equity ratio of 46.00, a quick ratio of 0.83 and a current ratio of 1.56. The stock has a market capitalization of £2.91 billion, a P/E ratio of 15.89, a P/E/G ratio of -0.53 and a beta of 1.44.

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.