Currys (LON:CURY) Stock Passes Above 50 Day Moving Average - Here's Why

Key Points

• Currys plc's share price recently exceeded its 50-day moving average of GBX 117.67, reaching a high of GBX 137 during trading.
• Multiple analysts have set a consensus "Buy" rating for Currys, with an average price target of GBX 151.67, indicating positive market sentiment.
• The company approved a share buyback program, reflecting management's belief that the stock is undervalued and signaling confidence in its future performance.

Shares of Currys plc (LON:CURY - Get Free Report) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of GBX 117.67 ($1.59) and traded as high as GBX 137 ($1.85). Currys shares last traded at GBX 135.03 ($1.83), with a volume of 1,725,229 shares.

Analysts Set New Price Targets

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

Currys Price Performance

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 cap of £1.47 billion, a PE ratio of 1,438.95 and a beta of 1.31. The firm has a 50 day moving average of GBX 118.34 and a two-hundred day moving average of GBX 113.04.

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

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

Insider Activity

In related news, insider Alex Baldock sold 671,132 shares of the firm'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. Also, 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. Insiders sold 1,246,707 shares of company stock valued at $142,888,120 over the last ninety days. Corporate 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.