Workspace Group (LON:WKP) Shares Pass Above 200 Day Moving Average - Should You Sell?

Key Points

• Workspace Group shares rose above their 200-day moving average, reaching GBX 370.40 and last trading at GBX 370, compared with the 200-day average of GBX 363.18.
• Analyst sentiment remains positive but cautious: four analysts rate the stock a Buy and two a Hold, producing a “Moderate Buy” consensus and an average price target of GBX 415.50.
• The company reported quarterly earnings of GBX 31.30 per share and revenue of £181.40 million, but continued to show a negative net margin of 66.32% and negative return on equity of 8.83%.

Shares of Workspace Group Plc (LON:WKP - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 363.18 and traded as high as GBX 370.40. Workspace Group shares last traded at GBX 370, with a volume of 195,716 shares.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their price target on Workspace Group from GBX 480 to GBX 400 and set a "hold" rating on the stock in a report on Tuesday, June 23rd. Stifel Nicolaus reduced their price objective on Workspace Group from GBX 550 to GBX 500 and set a "buy" rating for the company in a report on Friday, April 17th. JPMorgan Chase & Co. decreased their target price on Workspace Group from GBX 500 to GBX 410 and set an "overweight" rating for the company in a research report on Tuesday, June 9th. Berenberg Bank upped their target price on shares of Workspace Group from GBX 401 to GBX 427 and gave the company a "buy" rating in a research note on Thursday, June 18th. Finally, Peel Hunt reaffirmed a "hold" rating and set a GBX 350 price target on shares of Workspace Group in a report on Friday, July 24th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of GBX 415.50.

Workspace Group Stock Performance

The firm has a market capitalization of £712.80 million, a PE ratio of -5.91, a price-to-earnings-growth ratio of 1.54 and a beta of 1.08. The company has a current ratio of 0.42, a quick ratio of 0.11 and a debt-to-equity ratio of 59.71. The business's 50 day simple moving average is GBX 346.02 and its two-hundred day simple moving average is GBX 363.18.

Workspace Group (LON:WKP - Get Free Report) last released its quarterly earnings results on Wednesday, June 10th. The company reported GBX 31.30 earnings per share for the quarter. Workspace Group had a negative return on equity of 8.83% and a negative net margin of 66.32%.The firm had revenue of £181.40 million for the quarter. Research analysts expect that Workspace Group Plc will post 36.7630058 earnings per share for the current fiscal year.

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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