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Wickes Group ( (GB:WIX) ) has shared an update.
Wickes Group plc, a company engaged in home improvement retail, announced the purchase of 70,000 of its ordinary shares at a weighted average price of 197.9078 pence per share through Investec Bank plc. This transaction is part of a broader share buyback program, with the company having repurchased a total of 1,948,340 shares to date. The purchased shares will be canceled, reducing the company’s issued share capital to 240,117,959 shares, which will also be the total number of voting rights available. This move is likely to impact shareholder value and market perception by potentially increasing earnings per share and demonstrating confidence in the company’s financial health.
Spark’s Take on GB:WIX Stock
According to Spark, TipRanks’ AI Analyst, GB:WIX is a Outperform.
Wickes Group shows strong technical momentum and strategic corporate actions such as share buybacks, which enhance shareholder value. Despite moderate financial health due to high leverage and declining revenue growth, the stock is supported by a strong dividend yield, making it attractive to income-focused investors. The valuation remains reasonable, adding to its appeal.
To see Spark’s full report on GB:WIX stock, click here.
More about Wickes Group
Average Trading Volume: 1,113,006
Technical Sentiment Signal: Buy
Current Market Cap: £466.1M
See more insights into WIX stock on TipRanks’ Stock Analysis page.