Wickes Group ( (GB:WIX) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
Wickes Group’s stock is on the rise due to a promising market performance outlook for 2024. Despite a slight dip in total revenue from tough market conditions, the company announced a £20 million share buyback and saw growth in its Retail division, especially in TradePro sales. Strategic moves to enhance Design & Installation sales, along with plans for new store openings and digital investments, are boosting investor confidence. Analyst Mark Photiades from Canaccord Genuity has reiterated a Buy rating, as Wickes’ adjusted profit before tax hits the upper end of expectations. The appointment of Christopher Rogers as Chair-Elect of Mitie Group plc adds to the company’s positive momentum.
More about Wickes Group
YTD Price Performance: 13.49%
Average Trading Volume: 969,767
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £395.3M
For further insights into WIX stock on TipRanks’ Stock Analysis page.
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