Workspace Group (LON:WKP) Price Target Lowered to GBX 500 at Stifel Nicolaus

Key Points

• Stifel Nicolaus lowered its price target for Workspace Group to GBX 500 (from GBX 550) but kept a "buy" rating, citing a potential upside of about 42.6% from the current share price.
• Analyst consensus remains positive with five analysts rating the stock "Buy" and a consensus target of about GBX 495.20 (Jefferies GBX 493, Berenberg GBX 503).
• The shares traded down to GBX 350.60 on heavy volume (2.46M vs. a ~1.10M average), leaving the stock well below analyst targets and a market cap of approximately £674.17M.

Workspace Group (LON:WKP - Get Free Report) had its price objective reduced by research analysts at Stifel Nicolaus from GBX 550 to GBX 500 in a note issued to investors on Friday,London Stock Exchange reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' target price indicates a potential upside of 42.61% from the company's current price.

Several other brokerages also recently commented on WKP. Jefferies Financial Group reaffirmed a "buy" rating and set a GBX 493 target price on shares of Workspace Group in a report on Friday. Berenberg Bank reaffirmed a "buy" rating and set a GBX 503 target price on shares of Workspace Group in a report on Friday. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of GBX 495.20.

Workspace Group Stock Performance

Shares of WKP stock traded down GBX 23 during midday trading on Friday, hitting GBX 350.60. 2,461,675 shares of the company were exchanged, compared to its average volume of 1,097,991. The firm has a market capitalization of £674.17 million, a P/E ratio of -8.88, a PEG ratio of 1.54 and a beta of 1.15. The company has a debt-to-equity ratio of 61.92, a quick ratio of 0.11 and a current ratio of 1.47. The firm's 50 day moving average price is GBX 386.83 and its two-hundred day moving average price is GBX 395.45. Workspace Group has a 52 week low of GBX 312 and a 52 week high of GBX 459.

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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