IG Design Group (LON:IGR) Shares Down 60% – Here’s Why

IG Design Group plc (LON:IGR) dropped 60% during trading on Friday . The stock traded as low as GBX 55 ($0.67) and last traded at GBX 57 ($0.69). Approximately 1,397,715 shares were traded during trading, an increase of 377% from the average daily volume of 293,153 shares. The stock had previously closed at GBX 142.50 ($1.73).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group decreased 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 note on Thursday, September 26th.

IG Design Group Trading Down 58.2 %

The firm has a market capitalization of £56.79 million, a price-to-earnings ratio of 212.86 and a beta of 1.08. The firm’s 50-day moving average is GBX 132.46 and its 200 day moving average is GBX 159.27. The company has a current ratio of 1.88, a quick ratio of 0.85 and a debt-to-equity ratio of 35.04.

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.