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

Key Points

• Wickes Group's stock price fell by 8.6% after Deutsche Bank downgraded it to a sell rating, lowering the price target from GBX 205 to GBX 195.
• Despite the downgrade, three analysts maintain a Buy rating on Wickes Group, with an average target price of GBX 208.33.
• The company currently has a market capitalization of £477.09 million and operates in the £27 billion UK home improvement market.

Wickes Group plc (LON:WIX - Get Free Report)'s stock price dropped 8.6% 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). 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 ($2.97).

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

Wickes Group Stock Performance

The business has a 50-day moving average of GBX 222.36 and a two-hundred day moving average of GBX 201.28. The company has a market cap of £477.09 million, a P/E ratio of 16.29, 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 current ratio of 1.10 and a quick ratio of 0.58.

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.

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