IWG (LON:IWG) Trading Down 0.2% – Here’s What Happened

Shares of IWG plc (LON:IWG) were down 0.2% during trading on Wednesday . The company traded as low as GBX 175 and last traded at GBX 176.65. Approximately 53,671,625 shares were traded during trading, an increase of 340% from the average daily volume of 12,194,000 shares. The stock had previously closed at GBX 177.

Analyst Upgrades and Downgrades

A number of analysts recently commented on IWG shares. Jefferies Financial Group restated a “buy” rating and set a GBX 265 price target on shares of IWG in a research note on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 275 target price on shares of IWG in a research note on Wednesday, May 13th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of GBX 253.80.

IWG Stock Down 0.2%

The company has a debt-to-equity ratio of -2,429.18, a quick ratio of 0.45 and a current ratio of 0.38. The firm has a market capitalization of £1.68 billion, a PE ratio of 98.14, a PEG ratio of -5.59 and a beta of 1.58. The company’s 50 day simple moving average is GBX 186.09 and its 200-day simple moving average is GBX 209.21.

IWG declared that its Board of Directors has approved a share buyback program on Tuesday, March 3rd that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are 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.