Workspace Group (LON:WKP) Shares Pass Below 200 Day Moving Average – Time to Sell?

Workspace Group Plc (LON:WKP) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 392.64 and traded as low as GBX 341.60. Workspace Group shares last traded at GBX 344.33, with a volume of 548,081 shares trading hands.

Analysts Set New Price Targets

A number of research firms have recently issued reports on WKP. Berenberg Bank reiterated a “buy” rating and set a GBX 503 price objective on shares of Workspace Group in a research note on Friday, April 17th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Workspace Group from GBX 480 to GBX 400 and set a “hold” rating on the stock in a research note on Monday, April 20th. Jefferies Financial Group reiterated a “buy” rating and set a GBX 493 price objective on shares of Workspace Group in a research note on Friday, April 17th. Finally, Stifel Nicolaus dropped their price objective on shares of Workspace Group from GBX 550 to GBX 500 and set a “buy” rating on the stock in a research note on Friday, April 17th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of GBX 479.20.

Workspace Group Price Performance

The stock’s 50-day moving average is GBX 376.10 and its 200 day moving average is GBX 392.64. The company has a debt-to-equity ratio of 61.92, a current ratio of 1.47 and a quick ratio of 0.11. The company has a market cap of £662.10 million, a PE ratio of -8.72, a PEG ratio of 1.54 and a beta of 1.15.

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.