Currys (LON:CURY) Trading 16.9% Higher – Time to Buy?

Currys plc (LON:CURY)’s share price was 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). Approximately 16,887,090 shares changed hands during mid-day trading, an increase of 235% from the average daily volume of 5,036,165 shares. The stock had previously closed at GBX 109 ($1.47).

Wall Street Analyst Weigh In

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

Currys Price Performance

The company has a market cap 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 109.72. 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) last posted its earnings results on Thursday, July 3rd. The company reported GBX 10 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 anticipate that Currys plc will post 9.5199569 EPS for the current year.

Currys declared that its Board of Directors has approved a share repurchase program on Thursday, September 4th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions 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 stock in a transaction dated Friday, July 25th. The shares were sold at an average price of GBX 115, for a total value of £363,976.15. Over the last three months, insiders sold 1,246,707 shares of company stock valued at $142,888,120. 14.22% of the stock is currently 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.