Workspace Group (LON:WKP) Shares Pass Above 200-Day Moving Average – Should You Sell?

Shares of Workspace Group Plc (LON:WKP) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 400.94 and traded as high as GBX 425.50. Workspace Group shares last traded at GBX 424.50, with a volume of 95,661 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Jefferies Financial Group decreased their price objective on shares of Workspace Group from GBX 516 to GBX 490 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Deutsche Bank Aktiengesellschaft cut their price objective on 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 reiterated a “buy” rating and set a GBX 500 target price on shares of Workspace Group in a report on Thursday, October 16th. Finally, Berenberg Bank reissued a “buy” rating and set a GBX 487 target price on shares of Workspace Group in a research report on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Workspace Group presently has an average rating of “Buy” and an average price target of GBX 489.25.

Workspace Group Trading Up 1.0%

The firm has a market cap of £816.27 million, a price-to-earnings ratio of -10.75, 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 business has a 50 day moving average price of GBX 400.44 and a 200-day moving average price of GBX 400.94.

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

Insider Activity

In related news, insider Manju Malhotra purchased 2,724 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was acquired at an average price of GBX 367 per share, for a total transaction of £9,997.08. Also, insider David Stevenson bought 1,366 shares of the business’s stock in a transaction on Friday, November 21st. The stock was acquired at an average cost of GBX 364 per share, for a total transaction of £4,972.24. Over the last three months, insiders bought 14,410 shares of company stock worth $5,441,572. 5.30% of the stock is currently owned by company 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.