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

Wickes Group plc (LON:WIX) shares fell 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 ($2.72). 1,902,324 shares traded hands during trading, an increase of 39% from the average session volume of 1,367,013 shares. The stock had previously closed at GBX 220.50 ($2.98).

Several other equities analysts have also recently commented on the company. Shore Capital reiterated a “buy” rating on shares of Wickes Group in a research note on Thursday, July 24th. Canaccord Genuity Group restated a “buy” rating and set a GBX 250 price objective 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, Wickes Group currently has an average rating of “Moderate Buy” and a consensus target price of GBX 208.33.

Wickes Group Price Performance

The company has a quick ratio of 0.58, a current ratio of 1.10 and a debt-to-equity ratio of 456.98. The company has a market capitalization of £477.09 million, a P/E ratio of 16.29, a PEG ratio of 0.79 and a beta of 0.78. The business has a 50 day simple moving average of GBX 221.61 and a 200-day simple moving average of GBX 201.41.

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.