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

Key Points

• Wickes Group's stock price fell by 8.6% following a downgrade to a sell rating by Deutsche Bank, lowering their price target from GBX 205 to GBX 195.
• Despite the downgrade, several firms including Canaccord Genuity and Shore Capital have maintained a "buy" rating, with a consensus target price of GBX 208.33.
• Wickes Group operates 228 stores in the UK and has a market capitalization of £477.09 million, indicating its significant presence in the £27 billion home improvement market.

Wickes Group plc (LON:WIX - Get Free Report)'s stock price traded down 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 ($2.68) and last traded at GBX 201.50 ($2.72). 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 ($2.97).

WIX has been the subject of a number of other research reports. Canaccord Genuity Group reiterated a "buy" rating and issued a GBX 250 price objective on shares of Wickes Group in a report on Thursday, July 24th. Shore Capital reiterated a "buy" rating on shares of Wickes Group in a research 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 stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 208.33.

Wickes Group Stock Down 8.6%

The company has a debt-to-equity ratio of 456.98, a quick ratio of 0.58 and a current ratio of 1.10. The firm's fifty day simple moving average is GBX 222.36 and its 200 day simple moving average is GBX 201.28. The stock has a market capitalization of £477.09 million, a price-to-earnings ratio of 16.29, a P/E/G ratio of 0.79 and a beta of 0.78.

About Wickes Group

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.

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