IWG (LON:IWG) Trading Up 1.9% - Still a Buy?

Key Points

• Shares of IWG plc increased by 1.9%, trading at GBX 203.60 ($2.74) after reaching a daily high of GBX 206 ($2.78) and a significant trading volume increase of 31% over the average.
• Analysts have a consensus rating of "Buy" for IWG, with a target price range between GBX 260 to GBX 270, indicating positive expectations for the company's stock performance.
• IWG has a market capitalization of £2.05 billion with a notably high PE ratio of 9,254.55 and a debt-to-equity ratio of 12,629.31, suggesting significant leverage.

IWG plc (LON:IWG - Get Free Report)'s share price shot up 1.9% during mid-day trading on Friday . The stock traded as high as GBX 206 ($2.78) and last traded at GBX 203.60 ($2.75). 6,110,826 shares traded hands during mid-day trading, an increase of 31% from the average session volume of 4,680,735 shares. The stock had previously closed at GBX 199.90 ($2.70).

Analysts Set New Price Targets

Several brokerages recently commented on IWG. Royal Bank Of Canada upped their price target on shares of IWG from GBX 215 to GBX 260 and gave the company an "outperform" rating in a research report on Friday, August 29th. Berenberg Bank reiterated a "buy" rating and set a GBX 270 target price on shares of IWG in a research report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of GBX 265.

IWG Price Performance

The company's 50-day simple moving average is GBX 211.30 and its 200-day simple moving average is GBX 196.44. The company has a debt-to-equity ratio of 12,629.31, a current ratio of 0.41 and a quick ratio of 0.45. The stock has a market capitalization of £2.06 billion, a P/E ratio of 9,327.27, a price-to-earnings-growth ratio of -5.59 and a beta of 2.10.

About IWG

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.