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

IG Design Group plc (LON:IGR)’s stock price dropped 58.2% during mid-day trading on Friday . The stock traded as low as GBX 56.67 ($0.69) and last traded at GBX 59.60 ($0.73). Approximately 9,236,741 shares traded hands during trading, an increase of 876% from the average daily volume of 946,405 shares. The stock had previously closed at GBX 142.50 ($1.73).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group cut their price objective on IG Design Group from GBX 325 ($3.95) to GBX 270 ($3.29) and set a “buy” rating on the stock in a report on Thursday, September 26th.

IG Design Group Stock Performance

The company has a fifty day moving average price of GBX 132.46 and a two-hundred day moving average price of GBX 159.27. The company has a market capitalization of £56.79 million, a P/E ratio of 212.86 and a beta of 1.08. The company has a debt-to-equity ratio of 35.04, a current ratio of 1.88 and a quick ratio of 0.85.

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.