Wickes Group Advances Share Buyback Program with Latest Purchase

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

Wickes Group plc has announced the purchase of 66,354 of its ordinary shares at prices ranging from 221.00 to 225.00 pence per share, with a weighted average price of 222.8980 pence. This transaction is part of its ongoing share buyback program, which has seen a total of 2,554,272 shares repurchased to date. The company plans to cancel these shares, resulting in an issued share capital of 239,512,027 shares, impacting the total number of voting rights and potentially affecting shareholder calculations under the Financial Conduct Authority’s 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: 1,142,293

Technical Sentiment Signal: Buy

Current Market Cap: £515.5M

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