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Wickes Group ( (GB:WIX) ) just unveiled an update.
Wickes Group plc, a company involved in the home improvement industry, announced the purchase of 70,000 of its own ordinary shares at prices ranging from 224.00 to 228.50 pence per share, with a weighted average price of 226.0155 pence. This transaction is part of an ongoing buyback program, which has seen a total of 4,269,834 shares repurchased. The company plans to cancel these shares, reducing its issued share capital to 237,796,465 shares, which will also be the new total number of voting rights. This move is likely to impact the company’s market positioning and shareholder value by potentially increasing earnings per share and providing a signal of confidence in the company’s financial health.
The most recent analyst rating on (GB:WIX) stock is a Hold with a £1.70 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 overall score reflects a moderate financial performance with stable margins, strong cash flow, and a positive technical outlook. The ongoing share buyback program is a significant positive factor, enhancing shareholder value. However, the high P/E ratio suggests some valuation concerns.
To see Spark’s full report on GB:WIX stock, click here.
More about Wickes Group
Average Trading Volume: 1,013,976
Technical Sentiment Signal: Buy
Current Market Cap: £541.1M
See more data about WIX stock on TipRanks’ Stock Analysis page.