IWG (LON:IWG) Share Price Crosses Above 50-Day Moving Average – What’s Next?

IWG plc (LON:IWG)’s share price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of GBX 187.94 and traded as high as GBX 208.80. IWG shares last traded at GBX 202.48, with a volume of 1,228,068 shares traded.

Analyst Ratings Changes

Several brokerages recently commented on IWG. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 265 price objective 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 investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of GBX 253.80.

IWG Trading Down 1.4%

The stock has a market cap of £1.86 billion, a PE ratio of 109.50, a PEG ratio of -5.59 and a beta of 1.56. The company has a current ratio of 0.38, a quick ratio of 0.45 and a debt-to-equity ratio of -2,429.18. The firm has a fifty day simple moving average of GBX 188.21 and a two-hundred day simple moving average of GBX 199.56.

IWG declared that its board has authorized a stock buyback program on Tuesday, June 30th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are typically 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.