Currys (LON:CURY) Trading Up 16.9% - Still a Buy?

Key Points

• Currys plc's shares surged 16.9% during mid-day trading, reaching a high of GBX 135.60 after closing at GBX 109, with trading volume increasing by 235% compared to average levels.
• Several analysts have issued "buy" ratings for Currys, with price targets ranging from GBX 130 to GBX 175, indicating positive market sentiment towards the stock.
• The company has enacted a stock repurchase program, suggesting that its board believes the stock is undervalued, while insider sales of shares have also been reported recently.

Currys plc (LON:CURY - Get Free Report) shot up 16.9% during trading on Friday . The company traded as high as GBX 135.60 ($1.83) and last traded at GBX 127.39 ($1.72). 16,887,090 shares changed hands 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 ($1.47).

Analyst Upgrades and Downgrades

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

Currys Price Performance

The company has a market capitalization of £1.38 billion, a price-to-earnings ratio of 1,354.74 and a beta of 1.31. The company's 50 day simple moving average is GBX 115.23 and its 200-day simple moving average is GBX 109.65. 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 released its quarterly earnings results on Thursday, July 3rd. The company reported GBX 10 earnings per share (EPS) for the quarter. Currys had a net margin of 2.38% and a return on equity of 9.53%. On average, equities research analysts predict that Currys plc will post 9.5199569 earnings per share for the current fiscal year.

Currys announced that its board has initiated a stock buyback program on Thursday, September 4th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In other Currys news, insider Bruce Marsh sold 66,775 shares of the firm's 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 firm's 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. Insiders have sold a total of 1,246,707 shares of company stock worth $142,888,120 over the last ninety days. 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.