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Wickes Group ( (GB:WIX) ) has provided an update.
Wickes Group PLC has announced the purchase of 42,711 of its own ordinary shares, as part of its ongoing buyback program, at an average price of 216.26 pence per share. The company plans to cancel these shares, which will adjust its issued share capital to 236,824,223 shares, impacting shareholder voting rights and potentially influencing market perceptions of the company’s financial health and shareholder value.
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 moderate financial performance and a positive impact from corporate events, particularly the share buyback program. However, technical indicators suggest bearish momentum, and the high P/E ratio indicates potential overvaluation. The dividend yield provides some support, but the stock’s performance is hindered by high leverage and declining revenue growth.
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, offering a range of products and services focused on DIY, home improvement, and building supplies. The company primarily serves homeowners and trade professionals, positioning itself as a key player in the UK market.
Average Trading Volume: 876,954
Technical Sentiment Signal: Buy
Current Market Cap: £499.1M
See more insights into WIX stock on TipRanks’ Stock Analysis page.