Currys (LON:CURY) Stock Price Up 2% - What's Next?

Key Points

• Currys plc shares rose by 2% recently, trading at GBX 109 ($1.47), amid a significant decline in trading volume, with around 1,978,053 shares exchanged.
• Analysts have a consensus rating of "Buy" for Currys shares, with target prices ranging from GBX 130 to GBX 175, suggesting potential upside for investors.
• Company insiders recently sold over 1.2 million shares, amounting to transactions worth approximately £1.13 million, indicating possible profit-taking amidst mixed market signals.

Currys plc (LON:CURY - Get Free Report) traded up 2% during mid-day trading on Thursday . The stock traded as high as GBX 109.30 ($1.47) and last traded at GBX 109 ($1.47). 1,978,053 shares changed hands 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).

Wall Street Analyst Weigh In

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

Currys Price Performance

The company has a 50 day simple moving average of GBX 115.23 and a 200 day simple moving average of GBX 109.79. The stock has a market cap 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 released its quarterly 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%. Sell-side analysts forecast that Currys plc will post 9.5199569 earnings per share for the current fiscal year.

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

Insider Buying and Selling at Currys

In related news, insider Alex Baldock sold 671,132 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of GBX 115, for a total value of £771,801.80. Also, insider Bruce Marsh sold 316,501 shares of the company's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of GBX 115, for a total value of £363,976.15. Insiders have sold a total of 1,246,707 shares of company stock valued at $142,888,120 over the last three months. 14.22% of the stock is currently owned by 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.