Currys (LON:CURY) Sets New 12-Month High – Here’s Why

Currys plc (LON:CURY) shares hit a new 52-week high on Monday . The company traded as high as GBX 194.20 and last traded at GBX 149.10, with a volume of 3355637 shares trading hands. The stock had previously closed at GBX 150.38.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CURY. Citigroup upped their target price on Currys from GBX 168 to GBX 184 and gave the stock a “buy” rating in a research note on Friday, July 3rd. Berenberg Bank restated a “buy” rating and issued a GBX 210 price objective on shares of Currys in a report on Tuesday, July 14th. Royal Bank Of Canada raised shares of Currys to an “outperform” rating and cut their price objective for the company from GBX 180 to GBX 165 in a research note on Tuesday, June 16th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 155 target price on shares of Currys in a report on Wednesday, May 20th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Currys presently has an average rating of “Buy” and a consensus target price of GBX 178.50.

Currys Price Performance

The company has a quick ratio of 0.29, a current ratio of 0.89 and a debt-to-equity ratio of 39.53. The firm has a fifty day moving average price of GBX 159.45 and a two-hundred day moving average price of GBX 146.99. The stock has a market capitalization of £1.52 billion, a P/E ratio of 10.17 and a beta of 1.26.

Currys (LON:CURY) last released its quarterly earnings data on Thursday, July 2nd. The company reported GBX 13.40 EPS for the quarter. Currys had a return on equity of 7.10% and a net margin of 1.78%. On average, analysts expect that Currys plc will post 9.5199569 EPS for the current year.

Currys announced that its board has approved a share repurchase program on Thursday, July 2nd that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Currys news, insider Bruce Marsh sold 937,215 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of GBX 165, for a total value of £1,546,404.75. Also, insider Alex Baldock sold 1,742,877 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of GBX 165, for a total transaction of £2,875,747.05. Insiders sold a total of 2,872,081 shares of company stock valued at $473,701,376 over the last three months. Corporate insiders own 15.38% of the company’s stock.

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. 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.