Workspace Group's (WKP) Buy Rating Reaffirmed at Berenberg Bank

Key Points

• Berenberg Bank reissued a Buy rating on Workspace Group with a GBX 503 target, implying roughly a 44.21% upside from current levels.
• Shares fell to GBX 348.80 on Friday on heavy volume (5.85M vs. average 1.14M); the company has a market cap of £670.7M and a negative P/E (-8.83) with a debt-to-equity of 61.92.
• Workspace Group is London’s leading flexible workspace owner/operator, managing 4.7 million sq. ft. across 79 locations and serving about 4,000 businesses.

Workspace Group (LON:WKP - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at Berenberg Bank in a report released on Friday,Digital Look reports. They currently have a GBX 503 target price on the stock. Berenberg Bank's price objective would suggest a potential upside of 44.21% from the stock's current price.

Workspace Group Stock Performance

WKP traded down GBX 24.80 on Friday, hitting GBX 348.80. 5,848,286 shares of the stock traded hands, compared to its average volume of 1,143,756. Workspace Group has a 52 week low of GBX 312 and a 52 week high of GBX 459. The company has a current ratio of 1.47, a quick ratio of 0.11 and a debt-to-equity ratio of 61.92. The firm has a market capitalization of £670.70 million, a PE ratio of -8.83, a P/E/G ratio of 1.54 and a beta of 1.15. The business has a fifty day moving average price of GBX 386.83 and a two-hundred day moving average price of GBX 395.45.

About Workspace Group

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.

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.