IWG (LON:IWG) Shares Cross Below 50-Day Moving Average – Here’s Why

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 188.71 and traded as low as GBX 182.20. IWG shares last traded at GBX 185.80, with a volume of 1,317,377 shares.

Analyst Ratings Changes

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

IWG Price Performance

The company’s 50 day moving average price is GBX 188.71 and its 200-day moving average price is GBX 197.87. The company has a market capitalization of £1.77 billion, a PE ratio of 104.22, a PEG ratio of -5.59 and a beta of 1.56. The company has a current ratio of 0.38, a quick ratio of 0.45 and a debt-to-equity ratio of -2,429.18.

IWG declared that its Board of Directors has authorized 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 purchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are often a sign 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.