Wickes Group ( (GB:WIX) ) has provided an announcement.
Wickes Group PLC announced the purchase of 69,186 ordinary shares at a weighted average price of 190.4847 pence per share as part of its ongoing buyback program. This transaction brings the total number of shares repurchased to 1,533,753, with the intention to cancel these shares, reducing the company’s issued share capital to 240,532,546 shares. This move is expected to impact shareholder calculations under the Financial Conduct Authority’s rules, potentially affecting stakeholder interests and market perceptions.
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
Wickes Group PLC operates in the home improvement industry, providing a range of products and services including building materials, home improvement supplies, and garden products. The company focuses on serving both DIY enthusiasts and professional tradespeople, positioning itself as a key player in the UK market.
YTD Price Performance: 29.80%
Average Trading Volume: 1,095,465
Technical Sentiment Signal: Sell
Current Market Cap: £445.5M
For an in-depth examination of WIX stock, go to TipRanks’ Stock Analysis page.