Wickes Group Advances Share Buyback Program with Latest Purchase

Wickes Group ( (GB:WIX) ) has provided an announcement.

Wickes Group PLC has announced the purchase of 70,000 of its ordinary shares at prices ranging from 219.00 to 221.50 pence per share, as part of its ongoing share buyback program. This transaction brings the total number of shares repurchased under the program to 2,691,458. The company plans to cancel these shares, which will result in an issued share capital of 239,374,841 shares, impacting the total number of voting rights and potentially influencing shareholder calculations under regulatory 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

Average Trading Volume: 940,487

Technical Sentiment Signal: Buy

Current Market Cap: £520.1M

Learn more about WIX stock on TipRanks’ Stock Analysis page.