Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Wickes Group ( (GB:WIX) ) has provided an announcement.
Wickes Group plc has announced the repurchase of 28,511 of its ordinary shares at prices ranging from 229.00 to 231.00 pence per share, with a weighted average price of 229.9429 pence. The company intends to cancel these shares, which will adjust its total issued share capital to 237,376,976 shares. This move is part of a broader buyback program, under which Wickes has repurchased a total of 4,689,323 shares. The cancellation of shares is expected to impact the company’s voting rights structure, providing shareholders with a new denominator for calculating their interests under the Financial Conduct Authority’s rules.
The most recent analyst rating on (GB:WIX) stock is a Hold with a £1.60 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 moderate financial performance with stable margins and strong cash flow, though high leverage poses risks. The stock’s technical indicators suggest bullish momentum, while corporate events like share buybacks enhance shareholder value. However, high valuation metrics indicate overvaluation concerns.
To see Spark’s full report on GB:WIX stock, click here.
More about Wickes Group
Average Trading Volume: 959,612
Technical Sentiment Signal: Buy
Current Market Cap: £533M
For a thorough assessment of WIX stock, go to TipRanks’ Stock Analysis page.