IWG plc (LON:IWG – Get Free Report)’s stock price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of GBX 188.71 and traded as low as GBX 182.20. IWG shares last traded at GBX 185.80, with a volume of 1,317,377 shares.
Analysts Set New Price Targets
A number of research firms recently issued reports on IWG. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 275 target price on shares of IWG in a research report on Wednesday, May 13th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 265 price target on shares of IWG in a research 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of GBX 253.80.
Read Our Latest Analysis on IWG
IWG Trading Up 1.0%
IWG declared that its Board of Directors has approved a share buyback program on Tuesday, June 30th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 2.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is 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.
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