Workspace Group (LON:WKP) Share Price Crosses Below 200 Day Moving Average - Should You Sell?

Key Points

• Workspace Group shares fell below their 200-day moving average, trading as low as GBX 327.60 and last changing hands at GBX 332.20, below the GBX 350.23 average.
• Analyst views remain mixed but lean positive: Berenberg maintained a “buy” rating while lowering its target to GBX 418; Peel Hunt and Jefferies kept “hold” ratings. The consensus rating is “Moderate Buy” with a GBX 407.50 target.
• The company operates 4.7 million square feet of flexible workspace across 79 London and South East locations, serving approximately 4,000 businesses.

Workspace Group Plc (LON:WKP - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of GBX 350.23 and traded as low as GBX 327.60. Workspace Group shares last traded at GBX 332.20, with a volume of 6,976,483 shares.

Analysts Set New Price Targets

Several analysts have commented on the stock. Berenberg Bank dropped their target price on shares of Workspace Group from GBX 427 to GBX 418 and set a "buy" rating on the stock in a report on Friday, October 16th. Peel Hunt reiterated a "hold" rating and issued a GBX 350 price objective on shares of Workspace Group in a research note on Friday, July 24th. Finally, Jefferies Financial Group reiterated a "hold" rating and set a GBX 367 target price on shares of Workspace Group in a research report on Thursday, October 15th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of GBX 407.50.

Workspace Group Trading Up 0.5%

The firm's 50-day moving average price is GBX 358.45 and its 200-day moving average price is GBX 350.23. The company has a quick ratio of 0.11, a current ratio of 0.42 and a debt-to-equity ratio of 59.71. The company has a market cap of £639.98 million, a P/E ratio of -5.31, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09.

Workspace Group Company Profile

Workspace is London's leading owner and operator of flexible workspace, currently managing 4.7 million sq. ft. of sustainable space at 79 locations in London and the South East. We are home to some 4,000 of London's fastest growing and established brands from a diverse range of sectors. Our purpose, to give businesses the freedom to grow, is based on the belief that in the right space, teams can achieve more. That in environments they tailor themselves, free from constraint and compromise, teams are best able to collaborate, build their culture and realise their potential.

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