Currys (LON:CURY) Sets New 12-Month High - Here's Why

Key Points

• Currys plc shares reached a new 52-week high, trading as high as GBX 139.30 on Monday, with an average target price set by analysts at GBX 151.67.
• Multiple analysts have given Currys a buy rating, with Citigroup raising its price target to GBX 150 and Berenberg Bank setting it even higher at GBX 175.
• Currys announced a share repurchase program, indicating management's belief that the stock is currently undervalued amid a recent increase in insider sales of shares.

Shares of Currys plc (LON:CURY - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as GBX 139.30 ($1.87) and last traded at GBX 138.40 ($1.86), with a volume of 278883 shares traded. The stock had previously closed at GBX 138.20 ($1.85).

Wall Street Analysts Forecast Growth

CURY has been the topic of several research analyst reports. Citigroup upped their price objective 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. Shore Capital reiterated a "no recommendation" rating on shares of Currys in a research report on Thursday, July 3rd. Berenberg Bank reiterated 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 reiterated a "buy" rating and set a GBX 130 price target on shares of Currys in a research report on Friday, July 4th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of GBX 151.67.

Currys Stock Performance

The stock has a market cap of £1.49 billion, a PE ratio of 1,457.89 and a beta of 1.31. The company has a debt-to-equity ratio of 45.83, a current ratio of 0.86 and a quick ratio of 0.29. The business has a 50 day moving average price of GBX 119.94 and a two-hundred day moving average price of GBX 114.43.

Currys (LON:CURY - Get Free Report) last released 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%. As a group, equities research analysts forecast that Currys plc will post 9.5199569 EPS for the current fiscal year.

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

Insiders Place Their Bets

In related news, insider Alex Baldock sold 136,128 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was 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 firm's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of GBX 111, for a total value of £74,120.25. Insiders sold 1,246,707 shares of company stock valued at $142,888,120 in the last ninety days. 14.22% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.