Currys (LON:CURY) Share Price Crosses Below Fifty Day Moving Average - Here's What Happened

Key Points

• Currys shares fell below their 50-day moving average of GBX 153.37, reaching GBX 145.70 and last trading at GBX 146.10.
• Analysts remain broadly positive: all four covering analysts rate the stock “Buy,” with a consensus price target of GBX 178.50; Berenberg maintained a GBX 210 target.
• Insiders sold 2.87 million shares valued at approximately £473.7 million over the past three months, including substantial sales by Bruce Marsh and Alex Baldock.

Currys plc (LON:CURY - Get Free Report)'s share price crossed below its 50-day moving average during trading on Monday. The stock has a 50-day moving average of GBX 153.37 and traded as low as GBX 145.70. Currys shares last traded at GBX 146.10, with a volume of 754,505 shares trading hands.

Analysts Set New Price Targets

CURY has been the topic of several recent analyst reports. Berenberg Bank reissued a "buy" rating and set a GBX 210 target price on shares of Currys in a report on Thursday, September 10th. Citigroup increased their price target on Currys from GBX 168 to GBX 184 and gave the company a "buy" rating in a research note on Friday, July 3rd. Finally, Royal Bank Of Canada upgraded Currys to an "outperform" rating and lowered their price target for the company from GBX 180 to GBX 165 in a research report on Tuesday, June 16th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of GBX 178.50.

Currys Price Performance

The company has a debt-to-equity ratio of 39.53, a quick ratio of 0.29 and a current ratio of 0.89. The company's 50 day moving average price is GBX 153.37 and its 200-day moving average price is GBX 146.56. The company has a market cap of £1.50 billion, a price-to-earnings ratio of 10.11 and a beta of 1.25.

Currys announced that its Board of Directors has authorized a share buyback program on Thursday, July 2nd that allows the company to buyback 0 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its stock is undervalued.

Insider Transactions at Currys

In other news, insider Bruce Marsh sold 135,051 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of GBX 164, for a total transaction of £221,483.64. Also, insider Alex Baldock sold 1,742,877 shares of Currys stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of GBX 165, for a total value of £2,875,747.05. Insiders sold a total of 2,872,081 shares of company stock valued at $473,701,376 in the last three months. 16.03% of the stock is currently owned by corporate 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. In each of these markets we are the market leader, employing 28,000 capable and committed colleagues. Our full range of services and support makes it easy for our customers to discover, choose, afford and enjoy the right technology for them, throughout their lives.

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