IWG (LON:IWG) Stock Price Up 0.3% – Here’s What Happened
by Kim Johansen · The Markets DailyShares of IWG plc (LON:IWG – Get Free Report) shot up 0.3% during mid-day trading on Tuesday . The stock traded as high as GBX 195.80 and last traded at GBX 194.32. 1,580,308 shares changed hands during trading, a decline of 87% from the average daily volume of 12,442,824 shares. The stock had previously closed at GBX 193.80.
Analysts Set New Price Targets
A number of analysts have weighed in on IWG shares. Jefferies Financial Group restated a “buy” rating and set a GBX 265 target price on shares of IWG in a report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 275 price target on shares of IWG in a research report on Wednesday, May 13th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of GBX 253.80.
Read Our Latest Stock Report on IWG
IWG Stock Up 0.3%
The business’s fifty day moving average price is GBX 186.70 and its two-hundred day moving average price is GBX 201.20. The company has a debt-to-equity ratio of -2,429.18, a quick ratio of 0.45 and a current ratio of 0.38. The firm has a market capitalization of £1.83 billion, a P/E ratio of 107.96, a PEG ratio of -5.59 and a beta of 1.56.
IWG announced that its Board of Directors has authorized a stock buyback plan on Tuesday, June 30th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
About IWG
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.