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Wickes Group ( (GB:WIX) ) has issued an announcement.
Wickes Group PLC has announced the purchase of 65,910 of its ordinary shares as part of its ongoing buyback program, with plans to cancel these shares. This move is part of a broader strategy that has seen the company repurchase nearly 4 million shares, potentially enhancing shareholder value by reducing the number of shares in circulation and increasing earnings per share.
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 driven by strong technical momentum and strategic corporate actions, such as share buybacks, which enhance shareholder value. These positives are tempered by financial challenges, including high leverage and a high P/E ratio, which suggest caution. The stock remains moderately attractive, particularly for those valuing momentum and dividend yield.
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 range of products and services for home renovations and DIY projects. The company focuses on providing quality materials and expert advice to homeowners and trade professionals.
Average Trading Volume: 1,033,482
Technical Sentiment Signal: Buy
Current Market Cap: £528.6M
For an in-depth examination of WIX stock, go to TipRanks’ Overview page.