IWG plc (LON:IWG - Get Free Report)'s share price passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of GBX 188.31 and traded as low as GBX 180.40. IWG shares last traded at GBX 186.10, with a volume of 2,847,150 shares trading hands.
Analyst Ratings Changes
A number of research firms have recently weighed in on IWG. Jefferies Financial Group reaffirmed a "buy" rating and set a GBX 265 price target on shares of IWG in a research note on Wednesday, August 12th. Royal Bank Of Canada reissued an "outperform" rating and set a GBX 260 price objective on shares of IWG in a report on Wednesday, August 12th. Berenberg Bank restated a "buy" rating and set a GBX 350 target price on shares of IWG in a research report on Tuesday, August 11th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a GBX 275 target price 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of GBX 269.80.
View Our Latest Research Report on IWG
IWG Stock Performance
The business's fifty day moving average price is GBX 188.31 and its 200 day moving average price is GBX 189.68. The company has a quick ratio of 0.45, a current ratio of 0.43 and a debt-to-equity ratio of -1,917.40. The firm has a market capitalization of £1.75 billion, a PE ratio of 103.39, a P/E/G ratio of -5.59 and a beta of 1.56.
IWG declared that its Board of Directors has authorized a stock repurchase program on Tuesday, June 30th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.
Insider Buying and Selling at IWG
In other IWG news, insider Christian Schmitz purchased 50,000 shares of IWG stock in a transaction on Wednesday, August 26th. The shares were purchased at an average cost of GBX 183 per share, with a total value of £91,500. Over the last quarter, insiders bought 125,000 shares of company stock valued at $22,050,000. Insiders own 27.58% of the company's stock.
IWG Company Profile
(
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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.
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