Wickes Group ( (GB:WIX) ) has provided an announcement.
Wickes Group plc has announced the purchase of 70,000 of its ordinary shares at a weighted average price of 190.3154 pence per share, as part of its ongoing share buyback programme. This transaction brings the total number of shares repurchased to 1,464,567. The company intends to cancel these shares, resulting in an issued share capital of 240,601,732 shares, which will also be the total number of voting rights. This move is expected to impact shareholders’ calculations under the Financial Conduct Authority’s Disclosure and Transparency Rules.
Spark’s Take on GB:WIX Stock
According to Spark, TipRanks’ AI Analyst, GB:WIX is a Outperform.
Wickes Group scores a 70, driven by strong technical momentum and positive corporate actions like share buybacks, which enhance shareholder value. While financial performance is moderate due to high leverage and declining revenue growth, the stock’s valuation is supported by a strong dividend yield, making it attractive for income-focused investors.
To see Spark’s full report on GB:WIX stock, click here.
More about Wickes Group
YTD Price Performance: 29.80%
Average Trading Volume: 1,095,465
Technical Sentiment Signal: Sell
Current Market Cap: £445.5M
Find detailed analytics on WIX stock on TipRanks’ Stock Analysis page.