Wickes Group (LON:WIX) Trading Down 8.6% Following 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) 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 changed hands 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).

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

Wickes Group Stock Performance

The firm's fifty day moving average price is GBX 220.63 and its 200 day moving average price is GBX 201.97. The company has a current ratio of 1.10, a quick ratio of 0.58 and a debt-to-equity ratio of 456.98. The firm has a market capitalization of £455.65 million, a PE ratio of 2,613.33, a PEG 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.