Canaccord Genuity Group Issues Pessimistic Forecast for Wickes Group (LON:WIX) Stock Price

Key Points

• Canaccord Genuity Group cut its price target on Wickes Group from GBX 265 to GBX 260, while keeping a buy rating on the stock.
• The new target still implies about 36.99% upside from Wickes’ current share price, and the stock opened at GBX 189.80 on Wednesday.
• Overall analyst sentiment remains positive: Wickes has four Buy ratings, one Hold, and one Sell, with a consensus price target of GBX 250.83.

Wickes Group (LON:WIX - Get Free Report) had its price objective decreased by analysts at Canaccord Genuity Group from GBX 265 to GBX 260 in a research note issued to investors on Wednesday,Digital Look reports. The brokerage currently has a "buy" rating on the stock. Canaccord Genuity Group's price objective indicates a potential upside of 36.99% from the stock's current price.

Other equities research analysts have also recently issued research reports about the company. Berenberg Bank reaffirmed a "buy" rating and set a GBX 265 target price on shares of Wickes Group in a research report on Wednesday. Shore Capital Group reiterated a "buy" rating and issued a GBX 280 target price on shares of Wickes Group in a research note on Tuesday. Finally, Jefferies Financial Group reissued a "buy" rating and set a GBX 278 target price on shares of Wickes Group in a research report on Tuesday, May 12th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Wickes Group currently has an average rating of "Moderate Buy" and a consensus price target of GBX 250.83.

Wickes Group Price Performance

LON WIX opened at GBX 189.80 on Wednesday. The company has a debt-to-equity ratio of 551.57, a current ratio of 1.07 and a quick ratio of 0.58. The firm has a market cap of £417.37 million, a P/E ratio of 11.57, a price-to-earnings-growth ratio of 0.79 and a beta of 0.85. The stock's 50-day moving average is GBX 181.03 and its two-hundred day moving average is GBX 208.85. Wickes Group has a fifty-two week low of GBX 169.20 and a fifty-two week high of GBX 255.

Wickes Group Company Profile

Wickes is one of the UK's best known home improvement retailers. Having opened our first store in 1972 we now have 228 stores across the UK, employing 7,400 colleagues and offering products ranging from kitchens and bathrooms, to paint, tools and timber. Wickes is a successful, growing, cash generative and profitable business, operating in the large and growing £27 billion UK Home Improvement market. Over the past few years Wickes has consistently outperformed the market, growing share and delivering a CAGR growth rate double that of the market. At Wickes, we have a clear purpose, which is to ‘help the nation feel house proud', and we do this by focusing on our three customer segments - Local Trade, Do-it-for-me and DIY retail.

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