IWG (LON:IWG) Reaches New 52-Week High - Here's What Happened

Key Points

• IWG plc reached a new 52-week high, trading at GBX 231 ($3.10) during mid-day trading on Tuesday, with a closing price of GBX 227.80 ($3.06).
• Berenberg Bank upgraded IWG's price target from GBX 255 ($3.43) to GBX 270 ($3.63) and maintained a "buy" rating.
• The company has a market capitalization of £2.27 billion and a significantly high debt-to-equity ratio of 12,629.31, indicating potential financial risk.

IWG plc (LON:IWG - Get Free Report) shares hit a new 52-week high on Tuesday . The company traded as high as GBX 231 ($3.13) and last traded at GBX 227.80 ($3.09), with a volume of 111947 shares trading hands. The stock had previously closed at GBX 227 ($3.08).

Wall Street Analyst Weigh In

Separately, Berenberg Bank restated a "buy" rating and issued a GBX 270 ($3.66) price objective on shares of IWG in a research note on Wednesday.

IWG Price Performance

The company has a current ratio of 0.41, a quick ratio of 0.45 and a debt-to-equity ratio of 12,629.31. The firm has a market cap of £2.31 billion, a PE ratio of -17.09, a price-to-earnings-growth ratio of -5.59 and a beta of 2.10. The stock has a 50 day simple moving average of GBX 215.12 and a 200-day simple moving average of GBX 194.

IWG Company Profile

IWG plc, together with its subsidiaries, provides workspace solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers office, coworking and collaboration, flexible and scalable, meeting, and lounges spaces; workplace recovery; memberships workspaces; and reception services and conference products.