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Wickes Group ( (GB:WIX) ) has provided an update.
Wickes Group PLC has announced the purchase of 70,000 of its ordinary shares at a weighted average price of 221.8092 pence per share as part of its ongoing share buyback program. This transaction brings the total number of shares repurchased to 3,651,507, which will be cancelled, reducing the company’s issued share capital to 238,414,792 shares. This move is likely aimed at enhancing shareholder value and optimizing the company’s capital structure.
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.
The most significant factors contributing to the score are the bullish technical indicators and positive corporate events, such as share buybacks, which enhance shareholder value. However, high leverage and valuation concerns slightly offset the positive sentiment.
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 materials and expert advice to both DIY enthusiasts and professional builders.
Average Trading Volume: 907,811
Technical Sentiment Signal: Buy
Current Market Cap: £521.3M
Find detailed analytics on WIX stock on TipRanks’ Stock Analysis page.