Workspace Group (LON:WKP) Stock Price Crosses Below Two Hundred Day Moving Average – Should You Sell?

Workspace Group Plc (LON:WKP) shares crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of GBX 351.63 and traded as low as GBX 350. Workspace Group shares last traded at GBX 354.80, with a volume of 6,094,233 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WKP. Berenberg Bank lifted their price objective on shares of Workspace Group from GBX 401 to GBX 427 and gave the company a “buy” rating in a report on Thursday, June 18th. JPMorgan Chase & Co. dropped their target price on Workspace Group from GBX 500 to GBX 410 and set an “overweight” rating on the stock in a research report on Tuesday, June 9th. Peel Hunt reiterated a “hold” rating and issued a GBX 350 price target on shares of Workspace Group in a report on Friday, July 24th. Deutsche Bank Aktiengesellschaft reduced their price target on Workspace Group from GBX 480 to GBX 400 and set a “hold” rating for the company in a research report on Tuesday, June 23rd. Finally, Jefferies Financial Group restated a “buy” rating and set a GBX 406 price objective on shares of Workspace Group in a research note on Thursday, June 11th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of GBX 415.50.

Workspace Group Stock Performance

The firm’s 50 day moving average is GBX 360.47 and its 200 day moving average is GBX 351.67. The company has a debt-to-equity ratio of 59.71, a quick ratio of 0.11 and a current ratio of 0.42. The stock has a market cap of £687.76 million, a P/E ratio of -5.70, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09.

Workspace Group Company Profile

Workspace is London's leading owner and operator of flexible workspace, currently managing 4.7 million sq. ft. of sustainable space at 79 locations in London and the South East. We are home to some 4,000 of London's fastest growing and established brands from a diverse range of sectors. Our purpose, to give businesses the freedom to grow, is based on the belief that in the right space, teams can achieve more. That in environments they tailor themselves, free from constraint and compromise, teams are best able to collaborate, build their culture and realise their potential.