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

Shares of IG Design Group plc (LON:IGR) traded down 58.2% on Saturday . The company traded as low as GBX 56.67 ($0.69) and last traded at GBX 59.60 ($0.72). 9,236,741 shares changed 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 cut their target price on shares of 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 company has a market cap of £56.79 million, a P/E ratio of 212.86 and a beta of 1.08. The stock has a 50 day moving average price of GBX 132.46 and a two-hundred day moving average price of GBX 158.92. The company has a quick ratio of 0.85, a current ratio of 1.88 and a debt-to-equity ratio of 35.04.

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.