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The latest announcement is out from Wickes Group ( (GB:WIX) ).
Wickes Group PLC has announced the purchase of 70,000 of its ordinary shares as part of an ongoing buyback program, with the intention to cancel these shares. This move is part of a broader strategy, having acquired a total of 4,339,834 shares since the program’s inception, which will result in a revised issued share capital of 237,726,465 shares. The cancellation of these shares is expected to impact the company’s share capital structure and could influence shareholder voting rights, as the total number of voting rights will align with the new share capital figure.
The most recent analyst rating on (GB:WIX) stock is a Buy with a £2.40 price target. To see the full list of analyst forecasts on Wickes Group stock, see the GB:WIX Stock Forecast page.
Spark’s Take on GB:WIX Stock
According to Spark, TipRanks’ AI Analyst, GB:WIX is a Neutral.
Wickes Group’s overall score reflects moderate financial performance balanced by strong technical indicators and positive corporate actions like share buybacks. However, high leverage and valuation concerns limit the score.
To see Spark’s full report on GB:WIX stock, click here.
More about Wickes Group
Wickes Group PLC operates in the home improvement retail industry, providing a range of products and services aimed at both DIY enthusiasts and professional tradespeople. The company focuses on offering a comprehensive selection of building materials, home improvement products, and related services to cater to the needs of its customers in the UK market.
Average Trading Volume: 1,029,016
Technical Sentiment Signal: Buy
Current Market Cap: £534.2M
Learn more about WIX stock on TipRanks’ Stock Analysis page.