Stock Buyback Plan Announced by IWG (LON:IWG) Board of Directors

IWG (LON:IWG) announced that its Board of Directors has initiated a share buyback plan on Tuesday, March 3rd, RTT News reports. The company plans to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire up to 5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

IWG Stock Performance

IWG stock traded down GBX 10.41 during trading on Tuesday, hitting GBX 203.40. 84,677,672 shares of the company traded hands, compared to its average volume of 11,744,610. The stock’s 50-day simple moving average is GBX 232.98 and its 200 day simple moving average is GBX 223.66. The company has a debt-to-equity ratio of -3,635.81, a current ratio of 0.45 and a quick ratio of 0.45. The company has a market cap of £2.02 billion, a PE ratio of 92.45, a P/E/G ratio of -5.59 and a beta of 1.62. IWG has a 1 year low of GBX 146 and a 1 year high of GBX 250.60.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on IWG shares. Jefferies Financial Group increased their price target on shares of IWG from GBX 245 to GBX 265 and gave the stock a “buy” rating in a report on Monday, November 24th. Peel Hunt restated a “hold” rating and set a GBX 199 target price on shares of IWG in a report on Tuesday, November 4th. Finally, Berenberg Bank restated a “buy” rating and issued a GBX 270 price objective on shares of IWG in a report on Tuesday, November 4th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of GBX 248.50.

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.