IWG (LON:IWG) Shares Up 0.3% – What’s Next?

Shares of IWG plc (LON:IWG) were up 0.3% during 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 mid-day trading, a decline of 87% from the average session volume of 12,442,824 shares. The stock had previously closed at GBX 193.80.

Analyst Ratings Changes

A number of research firms have recently weighed in on IWG. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 265 price objective on shares of IWG in a research report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 275 target price on shares of IWG in a report on Wednesday, May 13th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of GBX 253.80.

IWG Stock Performance

The stock’s 50-day simple moving average is GBX 186.82 and its 200 day simple moving average is GBX 200.96. The company has a market capitalization of £1.86 billion, a PE ratio of 109.67, 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 quick ratio of 0.45 and a current ratio of 0.38.

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