IWG (LON:IWG) Stock Price Down 8.9% – Here’s Why

Shares of IWG plc (LON:IWG) were down 8.9% on Friday . The stock traded as low as GBX 223.20 and last traded at GBX 223.36. Approximately 6,706,598 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 13,161,270 shares. The stock had previously closed at GBX 245.20.

Analyst Ratings Changes

Several research firms recently commented on IWG. Peel Hunt reaffirmed a “hold” rating and set a GBX 199 target price on shares of IWG in a research note on Tuesday, November 4th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 270 price objective on shares of IWG in a research report on Tuesday, November 4th. Finally, Jefferies Financial Group lifted their price objective on shares of IWG from GBX 245 to GBX 265 and gave the company a “buy” rating in a research note on Monday, November 24th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of GBX 248.50.

IWG Stock Performance

The company has a debt-to-equity ratio of 12,629.31, a current ratio of 0.41 and a quick ratio of 0.45. The company has a fifty day moving average price of GBX 234.25 and a 200 day moving average price of GBX 224.05. The stock has a market cap of £2.17 billion, a P/E ratio of 99.45, a P/E/G ratio of -5.59 and a beta of 2.10.

IWG Company Profile

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.