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Wickes Group Announces Share Buyback and Cancellation

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Wickes Group Announces Share Buyback and Cancellation

Confident Investing Starts Here:

Wickes Group ( (GB:WIX) ) has issued an update.

Wickes Group plc has announced the purchase of 69,278 of its ordinary shares at a weighted average price of 222.9224 pence per share, as part of its ongoing share buyback program. The company plans to cancel these shares, which will adjust its issued share capital to a total of 239,030,402 shares, impacting shareholder voting rights and potentially enhancing shareholder value.

The most recent analyst rating on (GB:WIX) stock is a Hold with a £2.02 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.

The overall score of 70 reflects Wickes Group’s strong technical momentum and positive corporate activities, including a share buyback and robust retail growth. However, this is tempered by financial challenges such as high leverage and valuation concerns, with a high P/E ratio indicating potential overvaluation.

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

More about Wickes Group

Average Trading Volume: 926,455

Technical Sentiment Signal: Buy

Current Market Cap: £531.1M

For detailed information about WIX stock, go to TipRanks’ Stock Analysis page.

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