Royal Bank Of Canada Reaffirms “Outperform” Rating for IWG (LON:IWG)

IWG (LON:IWG)‘s stock had its “outperform” rating reiterated by equities researchers at Royal Bank Of Canada in a research report issued to clients and investors on Wednesday,Digital Look reports. They currently have a GBX 260 price target on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 41.93% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Berenberg Bank reissued a “buy” rating and set a GBX 350 price target on shares of IWG in a research report on Tuesday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 275 price objective on shares of IWG in a report on Wednesday, May 13th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a GBX 265 target price on shares of IWG in a report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 269.80.

IWG Stock Performance

Shares of IWG stock opened at GBX 183.19 on Wednesday. The stock has a market capitalization of £1.72 billion, a price-to-earnings ratio of 101.77, 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 current ratio of 0.38 and a quick ratio of 0.45. The business has a 50-day moving average of GBX 188.47 and a 200 day moving average of GBX 196.23. IWG has a 12 month low of GBX 163.50 and a 12 month high of GBX 250.60.

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