Currys (LON:CURY) Trading Up 16.9% - What's Next?

Key Points

• Currys plc saw a significant stock price increase of 16.9%, trading at GBX 127.39 ($1.71) after closing at GBX 109 ($1.46).
• Equities analysts have largely rated Currys as a "buy," with Citigroup setting a new price target of GBX 150 and Berenberg Bank suggesting a target of GBX 175.
• The company announced a stock buyback plan on September 4th, reflecting management's belief that the stock is undervalued.

Currys plc (LON:CURY - Get Free Report) was up 16.9% on Thursday . The company traded as high as GBX 135.60 ($1.82) and last traded at GBX 127.39 ($1.71). Approximately 16,887,090 shares changed hands during 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 Analyst Weigh In

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

Currys Price Performance

The company has a current ratio of 0.86, a quick ratio of 0.29 and a debt-to-equity ratio of 45.83. The stock has a market cap of £1.37 billion, a PE ratio of 1,340.93 and a beta of 1.31. The company has a fifty day moving average of GBX 115.11 and a 200-day moving average of GBX 109.44.

Currys (LON:CURY - Get Free Report) last posted 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%. Sell-side analysts expect that Currys plc will post 9.5199569 EPS for the current fiscal year.

Currys announced that its board has initiated 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. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling at Currys

In related news, insider Bruce Marsh sold 66,775 shares of the business's 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. Also, insider Alex Baldock sold 136,128 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were 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 worth $142,888,120 in the last quarter. Company insiders own 14.22% of the company's stock.

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.

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