IG Design Group (LON:IGR) Trading Down 58.2% – Here’s What Happened

IG Design Group plc (LON:IGR) traded down 58.2% on Friday . The company traded as low as GBX 57 ($0.70) and last traded at GBX 59.60 ($0.73). 6,719,956 shares traded hands during mid-day trading, an increase of 812% from the average session volume of 736,673 shares. The stock had previously closed at GBX 142.50 ($1.74).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group lowered their price objective on shares of IG Design Group from GBX 325 ($3.98) to GBX 270 ($3.30) and set a “buy” rating for the company in a research report on Thursday, September 26th.

IG Design Group Price Performance

The company has a current ratio of 1.88, a quick ratio of 0.85 and a debt-to-equity ratio of 35.04. The stock has a market cap of £56.79 million, a PE ratio of 212.86 and a beta of 1.08. The company’s 50 day moving average is GBX 133.97 and its 200-day moving average is GBX 159.96.

IG Design Group Company Profile

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.