Wickes Group PLC Advances Share Buyback Program with Latest Purchase

The latest announcement is out from Wickes Group ( (GB:WIX) ).

Wickes Group PLC announced the purchase of 70,000 of its own ordinary shares at a weighted average price of 219.5878 pence per share, as part of its ongoing buyback program. This move, which brings the total number of shares repurchased to 2,761,458, is intended to cancel the purchased shares, thereby reducing the company’s issued share capital to 239,304,841 shares. The cancellation of these shares will adjust the total number of voting rights, 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 shows strong technical momentum and positive corporate initiatives such as share buybacks. However, financial performance and valuation present some risks with a high leverage ratio and a potentially overvalued P/E ratio. The positive momentum and strategic buybacks enhance the stock’s attractiveness, but investors should remain cautious of overbought technical signals.

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 aimed at both DIY enthusiasts and professional tradespeople. The company focuses on providing building supplies, home improvement products, and related services to its customers.

Average Trading Volume: 926,724

Technical Sentiment Signal: Buy

Current Market Cap: £517.3M

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