Wickes Group (LON:WIX) Shares Down 8.6% After Analyst Downgrade

Shares of Wickes Group plc (LON:WIX) 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 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 ($2.97).

Other equities research analysts have also issued research reports about the company. Canaccord Genuity Group restated a “buy” rating and set a GBX 250 target price on shares of Wickes Group in a research report on Thursday, July 24th. Shore Capital reissued a “buy” rating on shares of Wickes Group in a report on Thursday, July 24th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of GBX 208.33.

Wickes Group Stock Down 8.6%

The business’s 50 day moving average is GBX 222.36 and its 200-day moving average is GBX 201.28. The stock has a market cap of £477.09 million, a price-to-earnings ratio of 16.29, a PEG ratio of 0.79 and a beta of 0.78. The company has a debt-to-equity ratio of 456.98, a quick ratio of 0.58 and a current ratio of 1.10.

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.