IWG (LON:IWG) Shares Down 1.1% – What’s Next?

IWG plc (LON:IWG)’s share price fell 1.1% during mid-day trading on Tuesday . The stock traded as low as GBX 168 and last traded at GBX 169.10. 15,748,099 shares traded hands during mid-day trading, an increase of 52% from the average session volume of 10,344,549 shares. The stock had previously closed at GBX 170.90.

Analysts Set New Price Targets

Separately, Jefferies Financial Group raised their target price on shares of IWG from GBX 245 to GBX 265 and gave the stock a “buy” rating in a research note on Monday, November 24th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of GBX 248.50.

IWG Price Performance

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. The company has a market cap of £1.67 billion, a P/E ratio of 76.86, a P/E/G ratio of -5.59 and a beta of 1.57. The firm’s fifty day moving average is GBX 220.47 and its two-hundred day moving average is GBX 222.47.

IWG declared that its Board of Directors has approved a stock buyback plan on Tuesday, March 3rd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are 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.