Wickes Group PLC Announces Share Buyback and Cancellation

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

Wickes Group PLC has announced the purchase of 42,876 of its own ordinary shares at a price of 216.50 pence each, as part of its ongoing share buyback program. The company plans to cancel these shares, which will adjust its total issued share capital to 236,909,632 shares, affecting the voting rights and shareholding calculations for stakeholders.

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 industry, offering a range of products and services focused on DIY, home improvement, and building supplies. The company caters to both retail customers and trade professionals, positioning itself as a key player in the UK market.

Average Trading Volume: 889,413

Technical Sentiment Signal: Buy

Current Market Cap: £508.6M

For an in-depth examination of WIX stock, go to TipRanks’ Overview page.