IG Group (LON:IGG) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

IG Group Holdings plc (LON:IGG)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 1,145.58 and traded as high as GBX 1,347. IG Group shares last traded at GBX 1,341, with a volume of 996,277 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on IGG shares. Shore Capital reaffirmed a “buy” rating and set a GBX 1,250 target price on shares of IG Group in a report on Thursday, September 25th. Peel Hunt reissued a “buy” rating and set a GBX 340 price target on shares of IG Group in a research report on Thursday, October 16th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 1,250 price objective on shares of IG Group in a report on Friday, September 26th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of IG Group in a research note on Tuesday, December 2nd. They set a “buy” rating and a GBX 1,300 target price for the company. Seven analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 1,302.

IG Group Price Performance

The company has a market capitalization of £4.56 billion, a P/E ratio of 12.78, a PEG ratio of -1.44 and a beta of 0.55. The company has a quick ratio of 2.40, a current ratio of 2.47 and a debt-to-equity ratio of 17.04. The business has a 50 day simple moving average of GBX 1,217.23 and a 200-day simple moving average of GBX 1,145.58.

IG Group Company Profile

IG Group (LSEG:IGG) is an innovative, global fintech company that delivers dynamic online trading platforms and a
robust educational ecosystem to power the pursuit of financial freedom for the ambitious. For nearly five decades,
the Company has evolved its technology, risk management, financial products, content, and platforms to meet the
needs of its retail and institutional clients. IG Group continues to innovate its offering for the new generation of tomorrow’s
investors through its IG, tastytrade, IG Prime, Spectrum, and DailyFX brands.

Established in 1974, IG Group is a London-headquartered FTSE 250 company offering its clients access to ~19,000
financial markets through its offices spread across Europe, North America, Africa, Asia-Pacific and the Middle East.