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 trading on Saturday . The stock traded as low as GBX 56.67 ($0.69) and last traded at GBX 59.60 ($0.72). 9,236,741 shares traded hands during 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).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group lowered their target price on IG Design Group from GBX 325 ($3.95) to GBX 270 ($3.28) and set a “buy” rating for the company in a research note on Thursday, September 26th.

IG Design Group Stock Performance

The stock’s 50 day simple moving average is GBX 132.46 and its two-hundred day simple moving average is GBX 158.92. 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.