Will the Recent Numis Downgrade Hurt Workspace Group (LON:WKP) Shares This Week?

June 18, 2018 - By reb123z

Workspace Group plc (LON:WKP) Logo

Workspace Group (LON:WKP) Receives a Downgrade

In a note issued to clients and investors moments ago, Numis decreased their rating for shares of Workspace Group (LON:WKP) to a Hold. Analysts currently have set a GBX 1096.00 target price on the stock. Numis’s target price means a possible downside of -2.66 % from the last close price of the stock.

Workspace Group plc (LON:WKP) Ratings Coverage

Among 7 analysts covering Workspace Group (LON:WKP), 2 have Buy rating, 0 Sell and 5 Hold. Therefore 29% are positive. Workspace Group has GBX 1225 highest and GBX 165 lowest target. GBX 980.14’s average target is -11.46% below currents GBX 1107 stock price. Workspace Group had 25 analyst reports since December 22, 2017 according to SRatingsIntel. The firm has “Overweight” rating by JP Morgan given on Friday, January 19. Liberum Capital maintained Workspace Group plc (LON:WKP) on Tuesday, April 10 with “Buy” rating. Canaccord Genuity maintained it with “Hold” rating and GBX 925 target in Friday, December 22 report. JP Morgan maintained it with “Overweight” rating and GBX 1100 target in Monday, January 15 report. The rating was maintained by Liberum Capital with “Buy” on Monday, May 14. The firm earned “Buy” rating on Tuesday, April 10 by Peel Hunt. Peel Hunt downgraded the stock to “Hold” rating in Wednesday, June 6 report. As per Friday, January 19, the company rating was maintained by Numis Securities. On Tuesday, June 12 the stock rating was maintained by Liberum Capital with “Buy”. The rating was maintained by Peel Hunt on Thursday, March 22 with “Buy”.

The stock decreased 3.82% or GBX 44 during the last trading session, reaching GBX 1107. About 117,871 shares traded. Workspace Group plc (LON:WKP) has 0.00% since June 18, 2017 and is . It has underperformed by 12.57% the S&P500.

Workspace Group PLC, a real estate investment trust , engages in property investment in the form of letting of business accommodation to small and medium sized enterprises in London and the South East of England. The company has market cap of 1.99 billion GBP. It offers space for serviced offices, offices, studios, workshops, and light industrial units. It has a 8.95 P/E ratio. The firm owns 100 estates, comprising approximately 5.77 million square feet, and provides accommodation for 4,000 small businesses in London and the South East.

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