Workspace Group (LON:WKP) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Workspace Group Plc (LON:WKP)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 363.18 and traded as high as GBX 370.40. Workspace Group shares last traded at GBX 370, with a volume of 195,716 shares.

Analyst Ratings Changes

A number of brokerages have recently commented on WKP. Berenberg Bank increased their price target on Workspace Group from GBX 401 to GBX 427 and gave the company a “buy” rating in a research note on Thursday, June 18th. Stifel Nicolaus lowered their target price on Workspace Group from GBX 550 to GBX 500 and set a “buy” rating for the company in a report on Friday, April 17th. JPMorgan Chase & Co. dropped their target price on Workspace Group from GBX 500 to GBX 410 and set an “overweight” rating for the company in a research report on Tuesday, June 9th. Peel Hunt reissued a “hold” rating and set a GBX 350 price target on shares of Workspace Group in a research note on Friday, July 24th. Finally, Jefferies Financial Group restated a “buy” rating and set a GBX 406 price target on shares of Workspace Group in a report on Thursday, June 11th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 415.50.

Workspace Group Price Performance

The stock has a market cap of £705.10 million, a P/E ratio of -5.85, a P/E/G ratio of 1.54 and a beta of 1.08. The company’s 50 day moving average price is GBX 346.64 and its 200-day moving average price is GBX 363.20. The company has a quick ratio of 0.11, a current ratio of 0.42 and a debt-to-equity ratio of 59.71.

Workspace Group (LON:WKP) last issued its quarterly earnings data on Wednesday, June 10th. The company reported GBX 31.30 earnings per share for the quarter. The company had revenue of £181.40 million for the quarter. Workspace Group had a negative net margin of 66.32% and a negative return on equity of 8.83%. As a group, sell-side analysts expect that Workspace Group Plc will post 36.7630058 earnings per share for the current year.

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.