Wickes Group Advances Share Buyback Program with Latest Purchase

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

Wickes Group PLC has announced the purchase of 65,081 of its ordinary shares as part of an ongoing buyback program, with plans to cancel these shares. This transaction brings the total number of shares repurchased to 2,351,389, reducing the company’s issued share capital to 239,714,910 shares. The cancellation of shares is expected to impact the company’s share capital structure and provide shareholders with updated voting rights, aligning with the Financial Conduct Authority’s regulations.

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

Wickes Group PLC operates in the home improvement retail industry, offering a range of products and services for home renovation and maintenance. The company focuses on providing DIY products, home improvement solutions, and related services to consumers in the UK market.

Average Trading Volume: 1,194,280

Technical Sentiment Signal: Buy

Current Market Cap: £525.4M

Find detailed analytics on WIX stock on TipRanks’ Stock Analysis page.