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Wickes Group ( (GB:WIX) ) has issued an update.
Wickes Group PLC announced the purchase of 76,812 of its ordinary shares as part of its ongoing buyback program, with plans to cancel these shares. This transaction brings the total number of shares repurchased to over 9 million, reducing the company’s issued share capital to 233,002,166 shares. The cancellation of shares is expected to impact the company’s capital structure and potentially enhance shareholder value by increasing the value of remaining shares.
The most recent analyst rating on (GB:WIX) stock is a Hold with a £235.00 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 strong technical momentum and positive corporate actions such as share buybacks. However, financial performance is moderate due to high leverage and inconsistent revenue growth. The valuation suggests potential overvaluation, but the dividend yield offers some compensation.
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 renovation and DIY projects. The company focuses on providing quality materials and expert advice to both professional builders and DIY enthusiasts.
Average Trading Volume: 518,775
Technical Sentiment Signal: Buy
Current Market Cap: £530.3M
Find detailed analytics on WIX stock on TipRanks’ Stock Analysis page.