Wickes Group Announces Share Buyback and Cancellation

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

Wickes Group plc, a company involved in purchasing its own shares, announced the acquisition of 69,798 ordinary shares at prices ranging from 223.00 to 227.00 pence per share, with a weighted average price of 224.9312 pence. The company plans to cancel these shares, which will adjust its issued share capital to 238,831,238 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’s stock score is driven by strong technical indicators and proactive corporate strategies like share buybacks, enhancing shareholder value. Financial performance shows moderate health but with challenges related to revenue growth and leverage. Valuation indicates potential overvaluation, yet the dividend yield is attractive.

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

More about Wickes Group

Average Trading Volume: 912,300

Technical Sentiment Signal: Buy

Current Market Cap: £522.4M

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