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The latest update is out from Wickes Group ( (GB:WIX) ).
Wickes Group PLC has announced the purchase of 43,102 of its own ordinary shares as part of its ongoing buyback program, with plans to cancel these shares. This move is part of a larger strategy, having repurchased a total of 5,351,473 shares, which will result in a new total of 236,714,826 shares in circulation, potentially impacting shareholder voting rights and market dynamics.
The most recent analyst rating on (GB:WIX) stock is a Hold with a £232.00 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 driven by moderate financial performance and a positive impact from corporate events, particularly the share buyback program. However, technical indicators suggest bearish momentum, and the high P/E ratio indicates potential overvaluation. The dividend yield provides some support, but the stock’s performance is hindered by high leverage and declining revenue growth.
To see Spark’s full report on GB:WIX stock, click here.
More about Wickes Group
Wickes Group PLC operates in the home improvement retail industry, offering a wide range of products and services for home renovation and DIY projects. The company focuses on providing quality building materials, tools, and home improvement solutions to both professional tradespeople and DIY enthusiasts.
Average Trading Volume: 829,707
Technical Sentiment Signal: Buy
Current Market Cap: £501.2M
For detailed information about WIX stock, go to TipRanks’ Stock Analysis page.