Currys (LON:CURY) Shares Up 20.8% - Should You Buy?

Key Points

• Currys' stock price increased by 20.8% during mid-day trading, reaching GBX 135.60 ($1.82), significantly above its previous close of GBX 109 ($1.47).
• Several analysts have set new price targets for Currys, with a consensus target price of GBX 151.67 and a majority rating it as a "Buy."
• Insider activity shows significant share sales, with insiders selling over 1.2 million shares worth about $142.9 million in the last quarter, indicating cautious signs from corporate leadership.

Currys plc (LON:CURY - Get Free Report) was up 20.8% during mid-day trading on Thursday . The stock traded as high as GBX 135.60 ($1.83) and last traded at GBX 131.70 ($1.78). Approximately 246,436,375 shares were traded during trading, an increase of 3,764% from the average daily volume of 6,378,559 shares. The stock had previously closed at GBX 109 ($1.47).

Analyst Ratings Changes

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

Currys Trading Up 2.3%

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 stock has a market capitalization of £1.41 billion, a P/E ratio of 1,385.26 and a beta of 1.31. The stock's fifty day moving average price is GBX 115.23 and its 200 day moving average price is GBX 109.79.

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

Currys announced that its board has authorized a stock repurchase plan on Thursday, September 4th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling at Currys

In related 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 transaction of £74,120.25. Also, insider Alex Baldock sold 136,128 shares of Currys 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 sold a total of 1,246,707 shares of company stock valued at $142,888,120 over the last 90 days. 14.22% of the stock is currently 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.