Wickes Group Advances Share Buyback Program with Latest Purchase

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

Wickes Group PLC has announced the purchase of 66,406 of its ordinary shares at prices ranging from 213.00 to 218.00 pence per share, as part of its ongoing share buyback program. The company intends to cancel these shares, which will result in a total issued share capital of 239,914,531 shares. This move is part of Wickes’ strategy to manage its 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 Outperform.

Wickes Group’s stock score is bolstered by strong technical momentum and strategic corporate actions like share buybacks, which enhance value. While high leverage and revenue growth challenges exist, strong cash flow and a robust dividend yield support its appeal. Careful management of financial leverage and technical conditions will be key to sustaining its positive outlook.

To see Spark’s full report on GB:WIX stock, click here.

More about Wickes Group

Average Trading Volume: 1,168,607

Technical Sentiment Signal: Buy

Current Market Cap: £508M

For an in-depth examination of WIX stock, go to TipRanks’ Stock Analysis page.