Currys (LON:CURY) Stock Price Up 16.9% - Time to Buy?

Key Points

• Currys plc shares surged 16.9% on Thursday, closing at GBX 127.39 ($1.71) after reaching a high of GBX 135.60 ($1.82), significantly increasing trading volume to approximately 16.9 million shares.
• Multiple analysts have upgraded their ratings on Currys, with Citigroup raising the price target from GBX 121 to GBX 150 and maintaining a "buy" rating, contributing to a consensus target price of GBX 151.67.
• The company has initiated a stock buyback program, indicating management's belief that the stock is currently undervalued, while insider selling over the last 90 days totaled over 1.2 million shares.

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

Wall Street Analysts Forecast Growth

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

Currys Price Performance

The stock has a market capitalization of £1.37 billion, a P/E ratio of 1,340.93 and a beta of 1.31. 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 stock has a 50-day simple moving average of GBX 115.11 and a 200 day simple moving average of GBX 109.44.

Currys (LON:CURY - Get Free Report) last announced 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%. On average, equities analysts forecast that Currys plc will post 9.5199569 earnings per share for the current fiscal year.

Currys declared that its board has initiated a stock buyback program on Thursday, September 4th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Alex Baldock sold 136,128 shares of Currys stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of GBX 113, for a total transaction of £153,824.64. Also, insider Bruce Marsh sold 66,775 shares of Currys 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. Over the last ninety days, insiders have sold 1,246,707 shares of company stock valued at $142,888,120. 14.22% of the stock is owned by 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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