Workspace Group (LON:WKP) Share Price Passes Below 200-Day Moving Average – What’s Next?

Workspace Group Plc (LON:WKP) shares crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 400.20 and traded as low as GBX 388. Workspace Group shares last traded at GBX 392, with a volume of 99,633 shares.

Wall Street Analysts Forecast Growth

WKP has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Workspace Group from GBX 520 to GBX 480 and set a “buy” rating on the stock in a report on Friday, December 5th. Peel Hunt reaffirmed a “buy” rating and set a GBX 500 price objective on shares of Workspace Group in a research note on Thursday, October 16th. Jefferies Financial Group lowered their target price on Workspace Group from GBX 516 to GBX 490 and set a “buy” rating for the company in a research note on Thursday, November 20th. Finally, Berenberg Bank restated a “buy” rating and set a GBX 403 target price on shares of Workspace Group in a report on Wednesday, November 19th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of GBX 468.25.

Workspace Group Trading Up 0.9%

The company has a market capitalization of £753.77 million, a PE ratio of -9.92, a price-to-earnings-growth ratio of 1.54 and a beta of 1.04. The company has a quick ratio of 0.11, a current ratio of 1.23 and a debt-to-equity ratio of 57.43. The stock’s fifty day moving average price is GBX 393.64 and its two-hundred day moving average price is GBX 400.20.

Workspace Group (LON:WKP) last issued its earnings results on Wednesday, November 19th. The company reported GBX (37) earnings per share (EPS) for the quarter. Workspace Group had a negative net margin of 104.45% and a negative return on equity of 12.20%. Sell-side analysts anticipate that Workspace Group Plc will post 36.7630058 earnings per share for the current year.

Insider Transactions at Workspace Group

In related news, insider David Stevenson purchased 1,366 shares of Workspace Group stock in a transaction on Friday, November 21st. The shares were bought at an average cost of GBX 364 per share, for a total transaction of £4,972.24. Also, insider Rosie Shapland purchased 9,000 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was bought at an average price of GBX 383 per share, for a total transaction of £34,470. Over the last quarter, insiders have purchased 14,410 shares of company stock valued at $5,441,572. 5.29% of the stock is currently owned by corporate insiders.

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.