IWG (LON:IWG) Share Price Crosses Below 50-Day Moving Average – Here’s What Happened

IWG plc (LON:IWG)’s share price passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of GBX 219.69 and traded as low as GBX 218. IWG shares last traded at GBX 223.40, with a volume of 1,395,485 shares trading hands.

Analysts Set New Price Targets

IWG has been the subject of several research reports. Peel Hunt reiterated a “hold” rating and set a GBX 199 price objective on shares of IWG in a research report on Tuesday, November 4th. Royal Bank Of Canada lifted their price target on IWG from GBX 215 to GBX 260 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Finally, Berenberg Bank restated a “buy” rating and issued a GBX 270 price target on shares of IWG in a research report on Tuesday, November 4th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of GBX 243.

IWG Trading Down 2.7%

The firm has a market capitalization of £2.17 billion, a price-to-earnings ratio of 98.82, a P/E/G ratio of -5.59 and a beta of 2.10. The company has a debt-to-equity ratio of 12,629.31, a quick ratio of 0.45 and a current ratio of 0.41. The company has a 50 day moving average price of GBX 219.69 and a two-hundred day moving average price of GBX 209.97.

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.