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An announcement from Wickes Group ( (GB:WIX) ) is now available.
Wickes Group PLC, a prominent company in the home improvement retail sector, has announced the purchase of 23,797 of its own ordinary shares at a weighted average price of 215.50 pence per share through Peel Hunt LLP. This transaction is part of an ongoing buyback program, which has seen the company acquire a total of 5,308,371 shares. The purchased shares will be canceled, reducing the company’s issued share capital to 236,757,928 shares, thereby affecting the total number of voting rights and potentially impacting shareholder calculations under the Financial Conduct Authority’s rules.
The most recent analyst rating on (GB:WIX) stock is a Hold with a £232.00 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
Average Trading Volume: 829,707
Technical Sentiment Signal: Buy
Current Market Cap: £501.2M
Learn more about WIX stock on TipRanks’ Stock Analysis page.