Currys (LON:CURY) Shares Up 16.2% - Here's What Happened

Key Points

• Currys plc's share price surged by 16.2%, reaching GBX 135.60 during trading, a notable increase from its previous close of GBX 109.
• Analysts have expressed confidence in Currys, with multiple firms setting price targets between GBX 130 and GBX 175, maintaining an overall average target of GBX 151.67, and rating it as a "buy."
• Despite recent insider selling of over 1.2 million shares, insiders still hold 14.10% of the company stock.

Currys plc (LON:CURY - Get Free Report)'s stock price shot up 16.2% during trading on Thursday . The company traded as high as GBX 135.60 ($1.83) and last traded at GBX 126.70 ($1.71). 251,989,094 shares changed hands during mid-day trading, an increase of 3,831% from the average session volume of 6,411,031 shares. The stock had previously closed at GBX 109 ($1.47).

Analyst Ratings Changes

A number of research firms recently commented on CURY. Shore Capital reaffirmed a "no recommendation" rating on shares of Currys in a report on Thursday, July 3rd. 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. Citigroup boosted their target price on shares of Currys from GBX 121 to GBX 150 and gave the company a "buy" rating in a report on Tuesday, July 15th. Finally, Berenberg Bank reissued a "buy" rating and set a GBX 175 target price on shares of Currys in a report on Thursday. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of GBX 151.67.

Currys Stock Up 2.3%

The stock has a 50 day moving average price of GBX 115.23 and a 200-day moving average price of GBX 109.79. 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 company has a debt-to-equity ratio of 45.83, a current ratio of 0.86 and a quick ratio of 0.29.

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%. As a group, research analysts expect that Currys plc will post 9.5199569 EPS for the current fiscal year.

Currys announced that its board has authorized a share buyback program on Thursday, September 4th that permits the company to buyback 0 shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Insider Transactions at Currys

In other news, insider Bruce Marsh sold 66,775 shares of the stock in a transaction dated 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 the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of GBX 113, for a total transaction of £153,824.64. Over the last quarter, insiders have sold 1,246,707 shares of company stock valued at $142,888,120. 14.22% of the stock is currently owned by company 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.