IWG (LON:IWG) Receives Outperform Rating from Royal Bank Of Canada

Royal Bank Of Canada reissued their outperform rating on shares of IWG (LON:IWG) in a research note released on Wednesday,Digital Look reports. Royal Bank Of Canada currently has a GBX 260 price target on the stock.

A number of other brokerages also recently weighed in on IWG. Berenberg Bank restated a “buy” rating and issued a GBX 350 target price on shares of IWG in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 275 price target on shares of IWG in a research report on Wednesday, May 13th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a GBX 265 price target on shares of IWG in a report on Wednesday. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of GBX 269.80.

IWG Stock Up 3.2%

IWG stock opened at GBX 182.80 on Wednesday. IWG has a fifty-two week low of GBX 163.50 and a fifty-two week high of GBX 250.60. 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. The firm’s 50-day simple moving average is GBX 188.47 and its 200 day simple moving average is GBX 196.23. The stock has a market cap of £1.72 billion, a PE ratio of 101.56, a price-to-earnings-growth ratio of -5.59 and a beta of 1.56.

IWG announced that its Board of Directors has approved a stock repurchase program on Tuesday, June 30th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 2.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

IWG Company Profile

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.