Wickes Group PLC Announces Share Buyback and Cancellation

Wickes Group ( (GB:WIX) ) just unveiled an update.

Wickes Group PLC, a company involved in the home improvement industry, has announced the purchase of 69,570 of its own ordinary shares at prices ranging from 214.50 to 220.50 pence per share. This transaction is part of a larger buyback program, which has seen the company repurchase a total of 2,286,308 shares. The purchased shares will be canceled, resulting in a new total of 239,779,991 shares in circulation. This move is likely aimed at consolidating the company’s share capital and potentially increasing shareholder value.

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 Outperform.

Wickes Group’s stock score is bolstered by strong technical momentum and strategic corporate actions like share buybacks, which enhance value. While high leverage and revenue growth challenges exist, strong cash flow and a robust dividend yield support its appeal. Careful management of financial leverage and technical conditions will be key to sustaining its positive outlook.

To see Spark’s full report on GB:WIX stock, click here.

More about Wickes Group

Average Trading Volume: 1,205,704

Technical Sentiment Signal: Buy

Current Market Cap: £503.2M

For a thorough assessment of WIX stock, go to TipRanks’ Stock Analysis page.