Workspace Group (LON:WKP) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Workspace Group Plc (LON:WKP)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 356.01 and traded as high as GBX 369.80. Workspace Group shares last traded at GBX 361.93, with a volume of 568,660 shares.

Analyst Upgrades and Downgrades

WKP has been the topic of several research reports. JPMorgan Chase & Co. cut their price objective on Workspace Group from GBX 500 to GBX 410 and set an “overweight” rating on the stock in a research report on Tuesday, June 9th. Berenberg Bank raised their price objective on Workspace Group from GBX 401 to GBX 427 and gave the company a “buy” rating in a research note on Thursday, June 18th. Peel Hunt reissued a “hold” rating and set a GBX 350 price objective on shares of Workspace Group in a report on Friday, July 24th. Deutsche Bank Aktiengesellschaft lowered their price target on Workspace Group from GBX 480 to GBX 400 and set a “hold” rating for the company in a report on Tuesday, June 23rd. Finally, Jefferies Financial Group reiterated a “buy” rating and set a GBX 406 price objective on shares of Workspace Group in a research note on Thursday, June 11th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Workspace Group presently has an average rating of “Moderate Buy” and an average price target of GBX 415.50.

Workspace Group Stock Performance

The stock has a fifty day moving average price of GBX 356.71 and a two-hundred day moving average price of GBX 355.61. The company has a market cap of £691.35 million, a P/E ratio of -5.73, a PEG ratio of 1.54 and a beta of 1.09. The company has a debt-to-equity ratio of 59.71, a current ratio of 0.42 and a quick ratio of 0.11.

Workspace Group (LON:WKP) last released its quarterly earnings results on Wednesday, June 10th. The company reported GBX 31.30 earnings per share (EPS) for the quarter. The company had revenue of £181.40 million during the quarter. Workspace Group had a negative return on equity of 8.83% and a negative net margin of 66.32%. On average, equities analysts forecast that Workspace Group Plc will post 36.7630058 earnings per share for the current fiscal year.

About Workspace Group

Workspace is London's leading owner and operator of flexible workspace, currently managing 4.7 million sq. ft. of sustainable space at 79 locations in London and the South East. We are home to some 4,000 of London's fastest growing and established brands from a diverse range of sectors. Our purpose, to give businesses the freedom to grow, is based on the belief that in the right space, teams can achieve more. That in environments they tailor themselves, free from constraint and compromise, teams are best able to collaborate, build their culture and realise their potential.