Wickes Group Advances Share Buyback Program with Latest Purchase

The latest update is out from Wickes Group ( (GB:WIX) ).

Wickes Group PLC has announced the purchase of 67,186 of its ordinary shares as part of its ongoing buyback program, with plans to cancel these shares. This move brings the total number of shares repurchased to 2,621,458, reducing the company’s issued share capital to 239,444,841 shares. The cancellation of these shares will adjust the total voting rights, potentially impacting shareholder calculations under the Financial Conduct Authority’s rules.

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 shows strong technical momentum and positive corporate initiatives such as share buybacks. However, financial performance and valuation present some risks with a high leverage ratio and a potentially overvalued P/E ratio. The positive momentum and strategic buybacks enhance the stock’s attractiveness, but investors should remain cautious of overbought technical signals.

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 building supplies, home improvement products, and related services. The company focuses on serving both DIY enthusiasts and professional tradespeople, offering a wide array of products for home renovation and maintenance projects.

Average Trading Volume: 940,487

Technical Sentiment Signal: Buy

Current Market Cap: £520.1M

See more data about WIX stock on TipRanks’ Stock Analysis page.