ITV (LON:ITV) Shares Up 15% – Time to Buy?

ITV plc (LON:ITV)’s stock price was up 15% during mid-day trading on Saturday . The stock traded as high as GBX 81.35 and last traded at GBX 77.88. Approximately 47,380,695 shares were traded during trading, an increase of 152% from the average daily volume of 18,833,127 shares. The stock had previously closed at GBX 67.70.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. dropped their price objective on ITV from GBX 112 to GBX 105 and set an “overweight” rating on the stock in a research note on Friday. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of GBX 105.

ITV Price Performance

The firm has a market capitalization of £2.91 billion, a P/E ratio of 15.89, a price-to-earnings-growth ratio of -0.53 and a beta of 1.44. The business has a 50-day moving average of GBX 76.50 and a 200 day moving average of GBX 79.08. The company has a current ratio of 1.56, a quick ratio of 0.83 and a debt-to-equity ratio of 46.00.

About ITV

ITV is a vertically integrated producer broadcaster and streamer, consisting of ITV Studios and Media & Entertainment.

ITV Studios is a scaled and global creator, owner and distributor of high-quality TV content. It operates in 12 countries, across 60+ labels and has a global distribution network.