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Wickes Group ( (GB:WIX) ) just unveiled an announcement.
Wickes Group PLC, a company engaged in the home improvement sector, announced the purchase of 69,970 of its ordinary shares at a weighted average price of 226.4762 pence per share. This transaction is part of its ongoing share buyback program, which has seen the company acquire a total of 3,927,991 shares. The purchased shares will be canceled, resulting in a total issued share capital of 238,138,308 shares, which will also be the new total number of voting rights. 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.
Wickes Group’s overall score reflects a balanced view of its financial performance, technical outlook, and corporate actions. Strong cash flow and positive technical indicators are tempered by valuation concerns and high leverage. The active share buyback program supports shareholder value, adding positively to the outlook.
To see Spark’s full report on GB:WIX stock, click here.
More about Wickes Group
Average Trading Volume: 1,031,653
Technical Sentiment Signal: Buy
Current Market Cap: £519.5M
For an in-depth examination of WIX stock, go to TipRanks’ Overview page.