Wickes Group (LON:WIX) Trading Down 8.6% Following Analyst Downgrade

Key Points

• Wickes Group's shares declined by 8.6% following a downgrade to a sell rating by Deutsche Bank, with the price target reduced from GBX 205 to GBX 195.
• Despite the downgrade, other analysts maintain a more positive outlook, with Canaccord Genuity and Shore Capital both recommending a buy rating and higher price targets of GBX 250.
• The stock is traded at GBX 201.50, down from its previous close of GBX 220.50, with an increase in trading volume by 39% compared to its average daily trading volume.

Wickes Group plc (LON:WIX - Get Free Report)'s stock price fell 8.6% during mid-day trading on Wednesday after Deutsche Bank Aktiengesellschaft downgraded the stock to a sell rating. Deutsche Bank Aktiengesellschaft now has a GBX 195 price target on the stock, down from their previous price target of GBX 205. Wickes Group traded as low as GBX 198.90 ($2.69) and last traded at GBX 201.50 ($2.73). 1,902,324 shares changed hands during mid-day trading, an increase of 39% from the average session volume of 1,367,013 shares. The stock had previously closed at GBX 220.50 ($2.99).

Several other equities analysts also recently commented on WIX. Canaccord Genuity Group restated a "buy" rating and issued a GBX 250 price target on shares of Wickes Group in a research note on Thursday, July 24th. Shore Capital reissued a "buy" rating on shares of Wickes Group in a report on Thursday, July 24th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of GBX 208.33.

Wickes Group Stock Performance

The stock has a fifty day simple moving average of GBX 220.63 and a two-hundred day simple moving average of GBX 201.97. The stock has a market cap of £455.65 million, a price-to-earnings ratio of 2,613.33, a P/E/G ratio of 0.79 and a beta of 0.78. The company has a debt-to-equity ratio of 456.98, a quick ratio of 0.58 and a current ratio of 1.10.

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.