Currys (LON:CURY) Reaches New 52-Week High - What's Next?

Key Points

• Currys plc shares reached a new 52-week high of GBX 135.60 ($1.82) and closed at GBX 127.39 ($1.71), marking a significant trading volume of over 16.8 million shares.
• Multiple analysts have revised their price targets for Currys, with Citigroup setting a new target of GBX 150 and Berenberg Bank raising theirs to GBX 175, both maintaining a "buy" rating.
• Currys announced a share buyback program after reporting a net margin of 2.38% and a return on equity of 9.53%, signaling confidence in the company's value and future prospects.

Shares of Currys plc (LON:CURY - Get Free Report) reached a new 52-week high during trading on Friday . The company traded as high as GBX 135.60 ($1.82) and last traded at GBX 127.39 ($1.71), with a volume of 16887090 shares. The stock had previously closed at GBX 109 ($1.46).

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CURY. Citigroup upped their price objective on shares of Currys from GBX 121 to GBX 150 and gave the company a "buy" rating in a research note on Tuesday, July 15th. Shore Capital reaffirmed a "no recommendation" rating on shares of Currys in a research note on Thursday, July 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a GBX 130 price objective on shares of Currys in a research note on Friday, July 4th. Finally, Berenberg Bank reaffirmed a "buy" rating and issued a GBX 175 price objective on shares of Currys in a research note on Thursday. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of GBX 151.67.

Currys Stock Up 2.9%

The stock's fifty day moving average is GBX 115.11 and its 200 day moving average is GBX 109.44. The company has a current ratio of 0.86, a quick ratio of 0.29 and a debt-to-equity ratio of 45.83. The company has a market capitalization of £1.39 billion, a P/E ratio of 1,366.32 and a beta of 1.31.

Currys (LON:CURY - Get Free Report) last posted its quarterly earnings results on Thursday, July 3rd. The company reported GBX 10 EPS for the quarter. Currys had a net margin of 2.38% and a return on equity of 9.53%. Research analysts predict that Currys plc will post 9.5199569 EPS for the current fiscal year.

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

Insider Transactions at Currys

In other news, insider Alex Baldock sold 136,128 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of GBX 113, for a total value of £153,824.64. Also, insider Bruce Marsh sold 66,775 shares of the company'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 sold a total of 1,246,707 shares of company stock worth $142,888,120 over the last ninety days. Insiders own 14.22% of the company's stock.

Currys Company Profile

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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