IWG’s (IWG) “Buy” Rating Reiterated at Berenberg Bank

Berenberg Bank reaffirmed their buy rating on shares of IWG (LON:IWG) in a research note released on Tuesday,Digital Look reports. Berenberg Bank currently has a GBX 350 price objective on the stock.

A number of other equities analysts have also recently issued reports on IWG. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 275 target price on shares of IWG in a report on Wednesday, May 13th. Jefferies Financial Group reiterated a “buy” rating and set a GBX 265 price target on shares of IWG in a report on Tuesday, May 12th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, IWG has an average rating of “Moderate Buy” and a consensus price target of GBX 269.80.

IWG Price Performance

IWG stock opened at GBX 182.50 on Tuesday. 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 has a 52 week low of GBX 163.50 and a 52 week high of GBX 250.60. The stock has a market capitalization of £1.71 billion, a P/E ratio of 101.39, a price-to-earnings-growth ratio of -5.59 and a beta of 1.56. The stock has a fifty day moving average of GBX 188.46 and a 200-day moving average of GBX 195.78.

IWG announced that its board has authorized a stock buyback program on Tuesday, June 30th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to repurchase up to 2.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

IWG Company Profile

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.