Workspace Group (LON:WKP) Shares Cross Below Two Hundred Day Moving Average – Should You Sell?

Workspace Group Plc (LON:WKP)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 377.16 and traded as low as GBX 343.40. Workspace Group shares last traded at GBX 348.60, with a volume of 882,237 shares.

Wall Street Analysts Forecast Growth

WKP has been the topic of a number of analyst reports. Stifel Nicolaus lowered their price objective on shares of Workspace Group from GBX 550 to GBX 500 and set a “buy” rating on the stock in a research report on Friday, April 17th. Berenberg Bank upped their price objective on shares of Workspace Group from GBX 401 to GBX 427 and gave the stock a “buy” rating in a research report on Thursday. Jefferies Financial Group restated a “buy” rating and issued a GBX 406 target price on shares of Workspace Group in a research note on Thursday, June 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a GBX 400 target price on shares of Workspace Group in a report on Thursday, June 11th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Workspace Group from GBX 500 to GBX 410 and set an “overweight” rating on the stock in a research note on Tuesday, June 9th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Workspace Group has an average rating of “Moderate Buy” and an average price target of GBX 440.50.

Workspace Group Price Performance

The stock has a market capitalization of £648.88 million, a PE ratio of -8.54, a P/E/G ratio of 1.54 and a beta of 1.09. The stock has a 50 day moving average of GBX 343.52 and a two-hundred day moving average of GBX 376.91.

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

About Workspace Group

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.