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Wickes Group ( (GB:WIX) ) has issued an update.
Wickes Group plc announced the repurchase of 64,624 of its ordinary shares through Investec Bank plc, as part of its ongoing buyback program. The company intends to cancel these shares, which will adjust its issued share capital to 240,053,335 shares, impacting the voting rights and shareholding calculations for stakeholders.
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 is supported by strong technical momentum and strategic corporate actions, including a significant share buyback program that enhances shareholder value. While the financial performance is moderate due to high leverage and declining revenue growth, the stock’s valuation is bolstered by a strong dividend yield. The stock’s current position suggests potential for growth, but careful management of financial leverage and monitoring for any technical pullbacks will be important for maintaining its positive outlook.
To see Spark’s full report on GB:WIX stock, click here.
More about Wickes Group
Average Trading Volume: 1,113,006
Technical Sentiment Signal: Buy
Current Market Cap: £466.1M
For detailed information about WIX stock, go to TipRanks’ Stock Analysis page.