IG Design Group (LON:IGR) Stock Price Down 58.2% – Here’s Why

Shares of IG Design Group plc (LON:IGR) fell 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). 9,236,741 shares changed hands during mid-day trading, an increase of 876% from the average session volume of 946,405 shares. The stock had previously closed at GBX 142.50 ($1.73).

Wall Street Analysts Forecast Growth

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

IG Design Group Stock Performance

The business has a 50-day moving average of GBX 132.46 and a 200 day moving average of GBX 159.27. The company has a debt-to-equity ratio of 35.04, a current ratio of 1.88 and a quick ratio of 0.85. The company has a market cap of £56.79 million, a PE ratio of 212.86 and a beta of 1.08.

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.