Currys (LON:CURY) Trading 2% Higher - What's Next?

Key Points

• Currys plc's share price rose by 2%, trading at GBX 109 ($1.47), although the trading volume fell significantly by 60% compared to the average.
• Several analysts have given positive ratings for the stock, with a consensus price target of GBX 151.67, and a majority rating of "Buy".
• Insider transactions indicate notable selling activity, with over 1.24 million shares sold by company insiders recently, suggesting potential concerns about the stock's future performance.

Currys plc (LON:CURY - Get Free Report)'s stock price shot up 2% during mid-day trading on Thursday . The company traded as high as GBX 109.30 ($1.47) and last traded at GBX 109 ($1.47). 1,978,053 shares were traded during trading, a decline of 60% from the average session volume of 4,966,454 shares. The stock had previously closed at GBX 106.90 ($1.44).

Analysts Set New Price Targets

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

Currys Price Performance

The business has a 50-day moving average of GBX 115.23 and a 200 day moving average of GBX 109.79. The firm has a market capitalization of £1.41 billion, a P/E ratio of 1,385.26 and a beta of 1.31. The company has a current ratio of 0.86, a quick ratio of 0.29 and a debt-to-equity ratio of 45.83.

Currys (LON:CURY - Get Free Report) last posted its earnings results 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%. On average, sell-side 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 authorized a stock buyback plan on Thursday, September 4th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Currys

In other Currys news, insider Bruce Marsh sold 66,775 shares of Currys stock in a transaction that occurred on Tuesday, August 19th. The shares were 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 stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of GBX 113, for a total transaction of £153,824.64. Insiders sold 1,246,707 shares of company stock worth $142,888,120 in the last three months. 14.22% of the stock is owned by corporate 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.