IWG’s (IWG) Buy Rating Reiterated at Berenberg Bank

IWG (LON:IWG)‘s stock had its “buy” rating restated by Berenberg Bank in a research note issued on Tuesday,Digital Look reports. They presently have a GBX 350 target price on the stock. Berenberg Bank’s price objective would indicate a potential upside of 93.80% from the company’s current price.

Several other research analysts also recently commented on IWG. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 275 target price on shares of IWG in a research note on Wednesday, May 13th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 265 price target on shares of IWG in a report on Tuesday, May 12th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, IWG presently has a consensus rating of “Moderate Buy” and an average target price of GBX 269.80.

IWG Price Performance

Shares of IWG stock opened at GBX 180.60 on Tuesday. The business has a fifty day simple moving average of GBX 188.71 and a 200 day simple moving average of GBX 197.14. The company has a market cap of £1.70 billion, a P/E ratio of 100.33, a P/E/G ratio of -5.59 and a beta of 1.56. The company has a quick ratio of 0.45, a current ratio of 0.38 and a debt-to-equity ratio of -2,429.18. IWG has a twelve month low of GBX 163.50 and a twelve month high of GBX 250.60.

IWG announced that its board has authorized a stock buyback program on Tuesday, June 30th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 2.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management 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.