Wickes Group (LON:WIX) Shares Down 8.6% After 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 dropped 8.6% during 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 ($2.72). Approximately 1,902,324 shares traded hands during trading, an increase of 39% from the average daily volume of 1,367,013 shares. The stock had previously closed at GBX 220.50 ($2.98).

A number of other research analysts also recently issued reports on WIX. Shore Capital reiterated a "buy" rating on shares of Wickes Group in a report on Thursday, July 24th. Canaccord Genuity Group restated a "buy" rating and set a GBX 250 target price on shares of Wickes Group in a report on Thursday, July 24th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Wickes Group has an average rating of "Moderate Buy" and an average target price of GBX 208.33.

Wickes Group Price Performance

The company has a quick ratio of 0.58, a current ratio of 1.10 and a debt-to-equity ratio of 456.98. The company's 50 day moving average is GBX 221.16 and its 200 day moving average is GBX 201.70. The firm has a market capitalization of £464.01 million, a price-to-earnings ratio of 2,661.33, a P/E/G ratio of 0.79 and a beta of 0.78.

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.