ITV (LON:ITV) Trading 15% Higher – Time to Buy?

ITV plc (LON:ITV)’s share price shot up 15% during trading on Friday . The company 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.

Wall Street Analysts Forecast Growth

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

ITV Trading Up 15.0%

The company has a 50 day simple moving average of GBX 76.57 and a 200 day simple moving average of GBX 79.07. The company has a market capitalization of £2.91 billion, a PE ratio of 15.89, a price-to-earnings-growth 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.

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.