Currys (LON:CURY) Sets New 52-Week High - Should You Buy?

Key Points

• Currys plc reached a new 52-week high of GBX 136.90 ($1.85) on Thursday, reflecting strong trading activity with over 8 million shares exchanged.
• Analysts have increased their price targets for Currys, with Citigroup raising its target to GBX 150, and Berenberg Bank projecting a target of GBX 175, reinforcing a consensus rating of "Buy".
• The company announced a stock buyback plan on September 4th, signalling that its leadership believes the shares are currently undervalued.

Currys plc (LON:CURY - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as GBX 136.90 ($1.85) and last traded at GBX 134.40 ($1.82), with a volume of 8285908 shares traded. The stock had previously closed at GBX 135 ($1.83).

Analysts Set New Price Targets

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

Currys Stock Performance

The company has a debt-to-equity ratio of 45.83, a quick ratio of 0.29 and a current ratio of 0.86. The company has a market capitalization of £1.44 billion, a P/E ratio of 1,413.68 and a beta of 1.31. The business's fifty day simple moving average is GBX 116 and its 200-day simple moving average is GBX 110.36.

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

Currys declared that its board has approved a stock buyback plan on Thursday, September 4th that allows the company to buyback 0 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Currys

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