Interactive Brokers Group (IBKR) PT Raised to $60.00 at SunTrust Banks

Interactive Brokers Group (NASDAQ:IBKR) had its target price boosted by research analysts at SunTrust Banks from $48.00 to $60.00 in a note issued to investors on Wednesday, Marketbeat.com reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. SunTrust Banks’ target price suggests a potential downside of 3.97% from the company’s previous close. SunTrust Banks also issued estimates for Interactive Brokers Group’s Q1 2018 earnings at $0.47 EPS, Q2 2018 earnings at $0.48 EPS, Q3 2018 earnings at $0.51 EPS, Q4 2018 earnings at $0.54 EPS, FY2018 earnings at $2.00 EPS and FY2019 earnings at $2.45 EPS. The analysts noted that the move was a valuation call.

A number of other research firms also recently issued reports on IBKR. BidaskClub downgraded shares of Interactive Brokers Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 16th. Zacks Investment Research upgraded shares of Interactive Brokers Group from a “hold” rating to a “strong-buy” rating and set a $68.00 target price on the stock in a research report on Monday, January 8th. Finally, Goldman Sachs Group downgraded shares of Interactive Brokers Group from a “neutral” rating to a “sell” rating and set a $59.00 target price on the stock. in a research report on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $50.33.

Interactive Brokers Group (NASDAQ IBKR) traded up $0.70 during trading on Wednesday, hitting $62.48. 1,119,569 shares of the company were exchanged, compared to its average volume of 1,090,000. Interactive Brokers Group has a 52 week low of $33.01 and a 52 week high of $64.03. The firm has a market cap of $25,720.00, a P/E ratio of 57.85, a PEG ratio of 3.02 and a beta of 1.02.

Interactive Brokers Group (NASDAQ:IBKR) last released its earnings results on Tuesday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.07. Interactive Brokers Group had a net margin of 3.94% and a return on equity of 1.74%. The company had revenue of $515.00 million for the quarter, compared to the consensus estimate of $398.05 million. During the same quarter in the previous year, the company earned $0.07 EPS. Interactive Brokers Group’s quarterly revenue was up 166.8% compared to the same quarter last year. analysts predict that Interactive Brokers Group will post 2.08 EPS for the current year.

In other news, Vice Chairman Earl H. Nemser sold 2,683 shares of the stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $50.84, for a total value of $136,403.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Paul Jonathan Brody sold 10,756 shares of the stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $50.65, for a total transaction of $544,791.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 297,611 shares of company stock worth $15,773,905. Corporate insiders own 3.41% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its holdings in shares of Interactive Brokers Group by 27.9% in the second quarter. The Manufacturers Life Insurance Company now owns 2,966 shares of the financial services provider’s stock valued at $111,000 after purchasing an additional 647 shares during the last quarter. Riverhead Capital Management LLC raised its holdings in shares of Interactive Brokers Group by 71.9% in the second quarter. Riverhead Capital Management LLC now owns 3,095 shares of the financial services provider’s stock valued at $116,000 after purchasing an additional 1,295 shares during the last quarter. Creative Planning purchased a new stake in shares of Interactive Brokers Group in the fourth quarter valued at about $206,000. World Asset Management Inc purchased a new stake in shares of Interactive Brokers Group in the third quarter valued at about $214,000. Finally, Everence Capital Management Inc. purchased a new stake in shares of Interactive Brokers Group in the third quarter valued at about $224,000. Institutional investors own 15.79% of the company’s stock.

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About Interactive Brokers Group

Interactive Brokers Group, Inc (IBG, Inc) is a holding company. The Company is an automated global electronic broker and market maker specializing in routing orders, and executing and processing trades in securities, futures, foreign exchange instruments, bonds and mutual funds on over 120 electronic exchanges and market centers around the world and offering custody, prime brokerage, securities and margin lending services to customers.

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