IWG (LON:IWG) Trading 0.3% Higher – Still a Buy?

IWG plc (LON:IWG)’s share price rose 0.3% on Tuesday . The company traded as high as GBX 195.80 and last traded at GBX 194.32. 1,580,308 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 12,442,824 shares. The stock had previously closed at GBX 193.80.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IWG. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 265 target price on shares of IWG in a research report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 275 price target on shares of IWG in a report on Wednesday, May 13th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, IWG has a consensus rating of “Moderate Buy” and an average price target of GBX 253.80.

IWG Price Performance

The stock’s 50 day simple moving average is GBX 186.70 and its 200-day simple moving average is GBX 201.20. The firm has a market cap of £1.83 billion, a price-to-earnings ratio of 107.96, a price-to-earnings-growth ratio of -5.59 and a beta of 1.56. 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.

IWG announced that its Board of Directors has authorized a share repurchase plan on Tuesday, June 30th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.8% of its shares through open market purchases. Shares buyback plans are usually 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.