IWG's (IWG) "Outperform" Rating Reiterated at Royal Bank Of Canada

Key Points

• Royal Bank of Canada reiterated its “outperform” rating on IWG and set a GBX 260 price target, implying approximately 41.93% upside from the prior close.
• Analyst sentiment remains positive: IWG has a consensus “Moderate Buy” rating and an average target price of GBX 269.80, with four Buy ratings and one Hold.
• IWG authorized a $50 million share buyback, allowing repurchases of up to 2.8% of outstanding shares; the stock was trading up 3.4% and opened at GBX 183.19.

IWG (LON:IWG - Get Free Report)'s stock had its "outperform" rating reiterated by research analysts at Royal Bank Of Canada in a report issued on Wednesday,Digital Look reports. They currently have a GBX 260 target price on the stock. Royal Bank Of Canada's target price would suggest a potential upside of 41.93% from the company's previous close.

Several other analysts have also recently issued reports on IWG. Berenberg Bank restated a "buy" rating and issued a GBX 350 target price on shares of IWG in a report on Tuesday. Jefferies Financial Group reissued a "buy" rating and set a GBX 265 price target on shares of IWG in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a GBX 275 price objective on shares of IWG in a report on Wednesday, May 13th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, IWG currently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 269.80.

IWG Trading Up 3.4%

Shares of IWG stock opened at GBX 183.19 on Wednesday. The company has a debt-to-equity ratio of -2,429.18, a current ratio of 0.38 and a quick ratio of 0.45. The stock's 50 day simple moving average is GBX 188.47 and its 200-day simple moving average is GBX 196.23. The stock has a market cap of £1.72 billion, a P/E ratio of 101.77, a P/E/G ratio of -5.59 and a beta of 1.56. IWG has a 1-year low of GBX 163.50 and a 1-year high of GBX 250.60.

IWG declared that its Board of Directors has authorized a stock buyback program on Tuesday, June 30th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to reacquire up to 2.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

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. It provides its services franchise partners, landlords, and property owners under the Regus, Spaces, HQ, Signature, Basepoint, Stop & Work, The Office Operators, BizDojo, Open Office, No18, The Clubhouse, Central Working, and Copernico brands.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source