ITV (LON:ITV) Trading 15% Higher – Should You Buy?

ITV plc (LON:ITV) shares shot up 15% during mid-day trading on Friday . The stock traded as high as GBX 81.35 and last traded at GBX 77.88. 47,380,695 shares traded hands during mid-day 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. dropped their price objective on ITV from GBX 112 to GBX 105 and set an “overweight” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of GBX 105.

ITV Stock Performance

The stock has a market capitalization of £2.91 billion, a PE ratio of 15.89, a P/E/G ratio of -0.53 and a beta of 1.44. 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 firm’s 50 day moving average is GBX 76.50 and its two-hundred day moving average is GBX 79.08.

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.