Workspace Group (LON:WKP) Shares Cross Below 200 Day Moving Average – Here’s What Happened

Shares of Workspace Group Plc (LON:WKP) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 374.63 and traded as low as GBX 341.40. Workspace Group shares last traded at GBX 346.43, with a volume of 1,057,443 shares traded.

Analyst Ratings Changes

WKP has been the subject of several research analyst reports. Stifel Nicolaus dropped their target price on shares of Workspace Group from GBX 550 to GBX 500 and set a “buy” rating for the company in a research report on Friday, April 17th. JPMorgan Chase & Co. lowered their price objective on shares of 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 lifted their price objective on shares of Workspace Group from GBX 401 to GBX 427 and gave the stock a “buy” rating in a report on Thursday, June 18th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Workspace Group from GBX 480 to GBX 400 and set a “hold” rating for the company in a research report on Tuesday, June 23rd. Finally, Jefferies Financial Group reissued a “buy” rating and issued a GBX 406 target price on shares of Workspace Group in a research note on Thursday, June 11th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of GBX 440.50.

Workspace Group Stock Performance

The firm has a market cap of £666.14 million, a PE ratio of -8.77, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09. The company has a 50 day simple moving average of GBX 337.99 and a 200-day simple moving average of GBX 374.63. 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 issued its quarterly earnings results on Wednesday, June 10th. The company reported GBX 31.30 EPS for the quarter. The business had revenue of £181.40 million for the quarter. Workspace Group had a negative net margin of 66.32% and a negative return on equity of 8.83%. As a group, equities research analysts anticipate that Workspace Group Plc will post 36.7630058 EPS for the current year.

Workspace Group Company Profile

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.