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Wickes Group ( (GB:WIX) ) has shared an update.
Wickes Group plc has announced the purchase of 8,603 of its ordinary shares as part of its ongoing buyback program. The company intends to cancel these shares, bringing the total number of shares purchased under the program to 4,738,250. Following the cancellation, Wickes’ issued share capital will consist of 237,328,049 shares, which will also represent the total number of voting rights. This move is part of Wickes’ strategy to manage its share capital and potentially enhance shareholder value.
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 overall stock score is influenced significantly by its strong cash flow and positive corporate actions, such as the share buyback program. However, the company’s high leverage and valuation concerns due to a high P/E ratio slightly dampen the score. Technical indicators provide a mixed outlook, with momentum present but overvaluation risks evident.
To see Spark’s full report on GB:WIX stock, click here.
More about Wickes Group
Average Trading Volume: 973,323
Technical Sentiment Signal: Buy
Current Market Cap: £531.4M
Learn more about WIX stock on TipRanks’ Stock Analysis page.