IWG (LON:IWG) Stock Price Passes Above 50-Day Moving Average – Here’s What Happened

IWG plc (LON:IWG)’s share price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of GBX 187.94 and traded as high as GBX 208.80. IWG shares last traded at GBX 202.48, with a volume of 1,228,068 shares traded.

Analyst Ratings Changes

A number of research firms have recently commented on IWG. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 265 price objective on shares of IWG in a research note on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 275 target price 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 assigned a Hold rating to the stock. Based on data from MarketBeat, IWG has an average rating of “Moderate Buy” and a consensus target price of GBX 253.80.

IWG Stock Performance

The stock has a market capitalization of £1.91 billion, a price-to-earnings ratio of 112.67, a price-to-earnings-growth ratio of -5.59 and a beta of 1.56. The company has a 50 day simple moving average of GBX 187.94 and a 200-day simple moving average of GBX 199.83. The company has a quick ratio of 0.45, a current ratio of 0.38 and a debt-to-equity ratio of -2,429.18.

IWG declared that its board has initiated a share buyback plan on Tuesday, June 30th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 2.8% of its stock through open market purchases. Stock buyback plans are often a sign 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.