Jefferies Financial Group Reaffirms Buy Rating for IWG (LON:IWG)

IWG (LON:IWG)‘s stock had its “buy” rating reissued by analysts at Jefferies Financial Group in a note issued to investors on Wednesday,Digital Look reports. They currently have a GBX 265 target price on the stock. Jefferies Financial Group’s price objective would indicate a potential upside of 48.63% from the stock’s previous close.

Several other research firms have also commented on IWG. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 275 price target on shares of IWG in a research report on Wednesday, May 13th. Berenberg Bank reiterated a “buy” rating and issued a GBX 350 target price on shares of IWG in a report on Tuesday. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, IWG presently has an average rating of “Moderate Buy” and an average price target of GBX 269.80.

IWG Stock Performance

Shares of LON:IWG opened at GBX 178.30 on Wednesday. The firm has a fifty day simple moving average of GBX 188.56 and a two-hundred day simple moving average of GBX 196.71. IWG has a 52 week low of GBX 163.50 and a 52 week high of GBX 250.60. 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. The stock has a market capitalization of £1.67 billion, a P/E ratio of 99.06, a PEG ratio of -5.59 and a beta of 1.56.

IWG declared that its board has approved a share repurchase program on Tuesday, June 30th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to purchase up to 2.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management 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.