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An announcement from Wickes Group ( (GB:WIX) ) is now available.
Wickes Group plc has announced the repurchase of 66,271 of its ordinary shares at a weighted average price of 229.4 pence per share, as part of its ongoing buyback program. This transaction brings the total number of shares repurchased to 4,060,172. The company plans to cancel these shares, resulting in an issued share capital of 238,006,127 shares. This move is expected to streamline the company’s capital structure and potentially enhance shareholder value by reducing the number of shares in circulation.
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 stock score is driven by strong technical indicators and significant share buyback activities, which enhance shareholder value. However, high financial leverage and valuation concerns weigh down the score.
To see Spark’s full report on GB:WIX stock, click here.
More about Wickes Group
Average Trading Volume: 1,035,911
Technical Sentiment Signal: Buy
Current Market Cap: £528.6M
For an in-depth examination of WIX stock, go to TipRanks’ Overview page.