Canaccord Genuity Group Issues Pessimistic Forecast for Wickes Group (LON:WIX) Stock Price

Wickes Group (LON:WIX) had its price objective dropped by stock analysts at Canaccord Genuity Group from GBX 265 to GBX 260 in a note issued to investors on Wednesday,Digital Look reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 38.59% from the stock’s previous close.

WIX has been the topic of a number of other reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 278 price target on shares of Wickes Group in a research note on Tuesday, May 12th. Shore Capital Group reissued a “buy” rating and set a GBX 280 price objective on shares of Wickes Group in a research report on Tuesday. Finally, Berenberg Bank reissued a “buy” rating and set a GBX 265 price objective on shares of Wickes Group in a research report on Wednesday. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Wickes Group presently has a consensus rating of “Moderate Buy” and an average price target of GBX 248.

Wickes Group Stock Down 2.4%

WIX stock opened at GBX 187.60 on Wednesday. Wickes Group has a 12-month low of GBX 169.20 and a 12-month high of GBX 255. The company has a quick ratio of 0.58, a current ratio of 1.07 and a debt-to-equity ratio of 551.57. The company has a market cap of £412.53 million, a price-to-earnings ratio of 11.44, a PEG ratio of 0.79 and a beta of 0.85. The company has a 50 day moving average of GBX 181.65 and a two-hundred day moving average of GBX 208.22.

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. Over the past few years Wickes has consistently outperformed the market, growing share and delivering a CAGR growth rate double that of the market.

At Wickes, we have a clear purpose, which is to ‘help the nation feel house proud’, and we do this by focusing on our three customer segments – Local Trade, Do-it-for-me and DIY retail.