Wickes Group (LON:WIX) Stock Price Down 8.6% After 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) was 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 ($2.69) and last traded at GBX 201.50 ($2.73). Approximately 1,902,324 shares were traded during mid-day trading, an increase of 39% from the average daily volume of 1,367,013 shares. The stock had previously closed at GBX 220.50 ($2.99).

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

Wickes Group Stock Down 1.8%

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 firm has a market cap of £455.65 million, a price-to-earnings ratio of 2,613.33, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78. The stock's 50 day moving average is GBX 220.63 and its 200 day moving average is GBX 201.97.

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.