Shares of Wickes Group plc (LON:WIX) experienced a modest increase of 0.7% on Thursday, trading as high as GBX 216.67 before closing at GBX 215. During mid-day trading, the stock saw a volume of 317,110 shares, significantly down from its average session volume of 1,166,295 shares. The previous close stood at GBX 213.50.
Analyst Ratings Influence Market Sentiment
Recent reports from several equities analysts have impacted investor sentiment regarding Wickes Group. On August 26, 2023, Deutsche Bank Aktiengesellschaft downgraded the stock to a “sell” rating, reducing its target price from GBX 205 to GBX 195. Conversely, Canaccord Genuity Group reaffirmed a “buy” rating on October 23, 2023, with a price target set at GBX 250. Similarly, Shore Capital restated a “buy” rating on October 16, 2023, also targeting GBX 250. In another report on September 11, 2023, Citigroup adjusted its target price from GBX 202 to GBX 200 and assigned a “neutral” rating.
Currently, two analysts classify the stock as a buy, while one maintains a hold rating and another has issued a sell recommendation. According to MarketBeat, Wickes Group has an average rating of “hold” and an average price target of GBX 223.75.
Recent Financial Performance and Insider Activity
Wickes Group released its latest earnings results on September 30, 2023, reporting earnings per share (EPS) of GBX 15.10 for the quarter. The company recorded a net margin of 2.01% and a return on equity of 19.39%. Analysts project that Wickes Group will achieve an EPS of approximately 16.23 for the current financial year.
In a notable development, insider Michael Iddon purchased 15,317 shares of the company on September 12, 2023, at an average price of GBX 196 per share, totaling around £30,021.32. Corporate insiders now hold 0.38% of the company’s stock.
Wickes Group is recognized as one of the UK’s leading home improvement retailers. Established in 1972, the company operates 228 stores across the UK and employs approximately 7,400 colleagues. It offers a wide range of products including kitchens, bathrooms, paints, tools, and timber, and is a significant player in the expanding £27 billion UK home improvement market.
