Berenberg Bank Reaffirms “Buy” Rating for IWG (LON:IWG)

IWG (LON:IWG)‘s stock had its “buy” rating restated by investment analysts at Berenberg Bank in a research note issued on Tuesday,Digital Look reports. They presently have a GBX 350 price target on the stock. Berenberg Bank’s target price would indicate a potential upside of 93.80% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 265 target price on shares of IWG in a report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 275 price target on shares of IWG in a report on Wednesday, May 13th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 269.80.

IWG Stock Down 2.7%

Shares of LON:IWG opened at GBX 180.60 on Tuesday. The company has a market capitalization of £1.70 billion, a price-to-earnings ratio of 100.33, a P/E/G ratio of -5.59 and a beta of 1.56. The company has a debt-to-equity ratio of -2,429.18, a current ratio of 0.38 and a quick ratio of 0.45. The business’s 50-day moving average is GBX 188.71 and its 200-day moving average is GBX 197.14. IWG has a 1 year low of GBX 163.50 and a 1 year high of GBX 250.60.

IWG declared that its Board of Directors has initiated a stock repurchase program on Tuesday, June 30th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 2.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board 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.