Workspace Group (LON:WKP) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Shares of Workspace Group Plc (LON:WKP) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 401.96 and traded as high as GBX 415.50. Workspace Group shares last traded at GBX 400, with a volume of 13,804,439 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on WKP shares. Jefferies Financial Group lowered their target price on shares of Workspace Group from GBX 516 to GBX 490 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Deutsche Bank Aktiengesellschaft cut their target price on Workspace Group from GBX 520 to GBX 480 and set a “buy” rating for the company in a research note on Friday, December 5th. Finally, Berenberg Bank reaffirmed a “buy” rating and set a GBX 487 target price on shares of Workspace Group in a report on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of GBX 489.25.

Workspace Group Trading Up 0.7%

The company has a market capitalization of £782.47 million, a P/E ratio of -10.30, a P/E/G ratio of 1.54 and a beta of 1.08. The company has a debt-to-equity ratio of 61.92, a current ratio of 1.47 and a quick ratio of 0.11. The stock’s 50 day moving average is GBX 413.84 and its 200-day moving average is GBX 402.01.

Insider Activity

In other Workspace Group news, insider Rosie Shapland acquired 9,000 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were acquired at an average cost of GBX 383 per share, with a total value of £34,470. Corporate insiders own 5.30% of the company’s stock.

Workspace Group Company Profile

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.