Currys (LON:CURY) Shares Up 16.9% - Should You Buy?

Key Points

• Currys plc shares surged 16.9% during trading, reaching a last traded price of GBX 127.39 ($1.71), with a trading volume significantly higher than the average.
• Analysts are optimistic, with multiple firms issuing buy ratings and target prices ranging from GBX 130 to GBX 175, indicating strong confidence in the stock's potential.
• The company has authorized a stock repurchase plan, suggesting that the board believes its shares are undervalued, despite recent insider sales totaling over $142 million.

Currys plc (LON:CURY - Get Free Report) shot up 16.9% during trading on Friday . The company traded as high as GBX 135.60 ($1.82) and last traded at GBX 127.39 ($1.71). 16,887,090 shares were traded during mid-day trading, an increase of 235% from the average session volume of 5,036,165 shares. The stock had previously closed at GBX 109 ($1.46).

Wall Street Analyst Weigh In

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

Currys Price Performance

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 company has a market capitalization of £1.39 billion, a PE ratio of 1,366.32 and a beta of 1.31. The firm has a 50-day moving average of GBX 115.11 and a 200 day moving average of GBX 109.44.

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

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

Insider Buying and Selling at Currys

In other Currys news, insider Bruce Marsh sold 66,775 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of GBX 111, for a total value of £74,120.25. Also, insider Alex Baldock sold 136,128 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of GBX 113, for a total value of £153,824.64. Insiders have sold 1,246,707 shares of company stock worth $142,888,120 over 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.

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