Currys (LON:CURY) Sets New 1-Year High - What's Next?

Key Points

• Currys plc has reached a new 52-week high in stock price, trading as high as GBX 137.90 with a significant volume of 5,037,282 shares traded.
• Analysts have increased their price targets for Currys, with Citigroup setting a new target of GBX 150 and Berenberg Bank at GBX 175, further solidifying a consensus rating of "Buy."
• The company has announced a stock buyback plan, indicating confidence from the board that the shares are currently undervalued.

Currys plc (LON:CURY - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The stock traded as high as GBX 137.90 ($1.86) and last traded at GBX 136.90 ($1.85), with a volume of 5037282 shares traded. The stock had previously closed at GBX 136.70 ($1.85).

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CURY shares. Citigroup boosted their target price on Currys from GBX 121 to GBX 150 and gave the stock a "buy" rating in a research report on Tuesday, July 15th. Berenberg Bank restated a "buy" rating and set a GBX 175 target price on shares of Currys in a research report on Thursday, September 4th. Shore Capital restated a "no recommendation" rating on shares of Currys in a research report on Thursday, July 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a GBX 130 target price on shares of Currys in a report on Friday, July 4th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of GBX 151.67.

Currys Stock Performance

The firm has a market cap of £1.47 billion, a price-to-earnings ratio of 1,441.05 and a beta of 1.31. The stock's 50 day moving average is GBX 118.34 and its 200 day moving average is GBX 113.04. The company has a current ratio of 0.86, a quick ratio of 0.29 and a debt-to-equity ratio of 45.83.

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

Currys declared that its Board of Directors has approved a stock buyback plan on Thursday, September 4th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Currys news, insider Bruce Marsh sold 316,501 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of GBX 115, for a total value of £363,976.15. Also, insider Alex Baldock sold 671,132 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of GBX 115, for a total transaction of £771,801.80. In the last quarter, insiders sold 1,246,707 shares of company stock valued at $142,888,120. 14.22% of the stock is owned by company insiders.

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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