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

Shares of IWG plc (LON:IWG) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty 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 trading hands.

Analyst Ratings Changes

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

IWG Stock Up 0.2%

The firm has a market capitalization of £1.91 billion, a price-to-earnings ratio of 112.67, 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 current ratio of 0.38 and a quick ratio of 0.45. The stock has a fifty day moving average of GBX 187.94 and a two-hundred day moving average of GBX 199.83.

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