Wickes Group PLC Advances Share Buyback Program

Wickes Group ( (GB:WIX) ) has issued an announcement.

Wickes Group PLC has announced the purchase and subsequent cancellation of 42,698 of its ordinary shares as part of its ongoing buyback program. This move reduces the company’s total issued share capital to 236,866,934 shares, potentially impacting shareholder calculations under the Financial Conduct Authority’s rules.

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 moderate financial performance and a positive impact from corporate events, particularly the share buyback program. However, technical indicators suggest bearish momentum, and the high P/E ratio indicates potential overvaluation. The dividend yield provides some support, but the stock’s performance is hindered by high leverage and declining revenue growth.

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, providing a range of products and services for home renovation and DIY projects. The company focuses on offering quality building materials, tools, and home improvement solutions to both professional tradespeople and DIY enthusiasts.

Average Trading Volume: 880,513

Technical Sentiment Signal: Buy

Current Market Cap: £499.1M

Learn more about WIX stock on TipRanks’ Stock Analysis page.