Wickes Group PLC (LSE:WIX) is trading well through a tricky market, according to analysts at Peel Hunt.
Volume growth in the retail business has been offset by falls in Design and Installation, and group like-for-like sales in the first 16 weeks were down 4.2%.
While the backdrop remains uncertain, the momentum in retail and strong cost focus means the broker’s expectations for full-year profits are unchanged.
Shares in the builders' merchant have fallen 6% in the past month, underperforming the wider sector and at 145p trade on a cash-adjusted basis of seven times earnings.
In a sector showing signs of volumes starting to bottom, that is cheap suggests the broker, which has a target price of 170p.
Shares were down 1.4% at 143.6p.