ITV (LON:ITV) Trading 15% Higher – Here’s Why

ITV plc (LON:ITV) traded up 15% on Saturday . The company traded as high as GBX 81.35 and last traded at GBX 77.88. 47,380,695 shares changed hands during trading, an increase of 152% from the average session volume of 18,833,127 shares. The stock had previously closed at GBX 67.70.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. cut their price target on shares of ITV from GBX 112 to GBX 105 and set an “overweight” rating on the stock in a research report on Friday. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of GBX 105.

ITV Stock Up 15.0%

The company has a debt-to-equity ratio of 46.00, a quick ratio of 0.83 and a current ratio of 1.56. The stock’s 50 day simple moving average is GBX 76.50 and its 200 day simple moving average is GBX 79.08. The firm has a market cap 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.

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.