ICG Group (NASDAQ: ICGE) was upgraded by Zacks Investment Research from an “underperform” rating to a “neutral” rating in a note issued to investors on Saturday.
Separately, analysts at ThinkEquity initiated coverage on shares of ICG Group in a research note to investors on Wednesday. They set a “buy” rating on the stock. Also, analysts at Janney Montgomery Scott initiated coverage on shares of ICG Group in a research note to investors on Tuesday, November 29th. They set a “buy” rating on the stock.
ICG Group, Inc. (ICG) acquires and builds SaaS and technology-enabled business process outsourcing (BPO) companies that improve the productivity and efficiency of their business customers. As of September 30, 2011, the Company held ownership interests in 7 companies that it considers its partner companies. It has two business segments: core and venture. The core reporting segment includes the companies in which management takes a very active role in providing strategic direction and management assistance. ICG owns majority controlling equity positions in 3 of these core companies, which are called “consolidated core companies,” which include, as of September 30, 2011, GovDelivery (93 percent ownership); ICG Commerce (81 percent ownership); and InvestorForce (79 percent ownership). ICG also owns substantial minority equity positions in its other core companies, called “equity core companies,” which include, as of September 30, 2011, Channel Intelligence (49 percent ownership); Freeborders (31 percent ownership); StarCite (36 percent ownership), and WhiteFence (36 percent ownership). In addition, ICG holds venture interests in companies to which the Company generally devotes less capital and therefore holds relatively smaller ownership stakes.
ICG Group traded up 1.22% on Friday, hitting $9.09. ICG Group has a 1-year low of $7.22 and a 1-year high of $14.44. The stock has a 50-day moving average of $8.36 and a 200-day moving average of $9.63. The company has a market cap of $329.1 million and a price-to-earnings ratio of 33.01.