Currys (LON:CURY) Reaches New 12-Month High - Should You Buy?

Key Points

• Currys plc reached a new 52-week high, trading at GBX 143.50, with a volume of over 1.3 million shares traded.
• Analysts have issued new price targets for Currys, with Citigroup setting a target of GBX 150 and Berenberg Bank at GBX 175, indicating a generally positive outlook.
• Insiders have sold a significant amount of stock recently, totaling over 1.2 million shares, which may raise concerns about insider confidence in the company's future performance.

Currys plc (LON:CURY - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as GBX 143.86 ($1.92) and last traded at GBX 143.50 ($1.91), with a volume of 1330854 shares traded. The stock had previously closed at GBX 142 ($1.89).

Analysts Set New Price Targets

CURY has been the topic of a number of recent analyst reports. Shore Capital reissued a "no recommendation" rating on shares of Currys in a research report on Thursday, July 3rd. Citigroup lifted their price target on shares of Currys from GBX 121 to GBX 150 and gave the stock a "buy" rating in a research report on Tuesday, July 15th. Berenberg Bank reissued a "buy" rating and set a GBX 175 price target on shares of Currys in a research report on Thursday, September 4th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a GBX 130 price target on shares of Currys in a research report on Friday, July 4th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of GBX 151.67.

Currys Stock Up 1.8%

The firm has a market capitalization of £1.54 billion, a P/E ratio of 1,521.05 and a beta of 1.31. The firm's 50-day moving average is GBX 125.85 and its 200 day moving average is GBX 118.38. The company has a debt-to-equity ratio of 45.83, a quick ratio of 0.29 and a current ratio of 0.86.

Currys announced that its Board of Directors has approved a stock repurchase program on Thursday, September 4th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Activity

In other Currys news, insider Alex Baldock sold 136,128 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of GBX 113, for a total transaction of £153,824.64. Also, insider Bruce Marsh sold 66,775 shares of the business's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of GBX 111, for a total transaction of £74,120.25. Insiders have sold a total of 1,246,707 shares of company stock worth $142,888,120 over the last three months. Insiders own 14.23% of the company's stock.

About Currys

Currys plc is a leading omnichannel retailer of technology products and services, operating online and through over 800 stores in 8 countries. We Help Everyone Enjoy Amazing Technology, however they choose to shop with us. In the UK & Ireland we trade as Currys; in the Nordics under the Elkjøp brand and as Kotsovolos in Greece.

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