Workspace Group (LON:WKP) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Workspace Group Plc (LON:WKP) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 400.94 and traded as high as GBX 425.50. Workspace Group shares last traded at GBX 424.50, with a volume of 95,661 shares changing hands.

Analysts Set New Price Targets

WKP has been the topic of several recent analyst reports. Berenberg Bank restated a “buy” rating and set a GBX 487 target price on shares of Workspace Group in a research report on Wednesday, January 21st. Jefferies Financial Group decreased their price objective on Workspace Group from GBX 516 to GBX 490 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Peel Hunt reaffirmed a “buy” rating and issued a GBX 500 target price on shares of Workspace Group in a research note on Thursday, October 16th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Workspace Group from GBX 520 to GBX 480 and set a “buy” rating for the company in a report on Friday, December 5th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 489.25.

Workspace Group Price Performance

The company has a current ratio of 1.23, a quick ratio of 0.11 and a debt-to-equity ratio of 57.43. The stock has a market cap of £812.42 million, a PE ratio of -10.70, a P/E/G ratio of 1.54 and a beta of 1.04. The company’s 50 day moving average is GBX 401.30 and its 200-day moving average is GBX 401.08.

Workspace Group (LON:WKP) last announced its earnings results on Wednesday, November 19th. The company reported GBX (37) earnings per share (EPS) for the quarter. Workspace Group had a negative net margin of 104.45% and a negative return on equity of 12.20%. As a group, sell-side analysts predict that Workspace Group Plc will post 36.7630058 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Manju Malhotra purchased 2,724 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were acquired at an average cost of GBX 367 per share, for a total transaction of £9,997.08. Also, insider David Stevenson acquired 1,366 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were bought at an average price of GBX 364 per share, with a total value of £4,972.24. Insiders have acquired 14,410 shares of company stock valued at $5,441,572 over the last quarter. Insiders own 5.30% of the company’s stock.

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.