Currys (LON:CURY) Stock Price Up 10% on Analyst Upgrade

Currys plc (LON:CURY) shares were up 10% on Thursday after Berenberg Bank raised their price target on the stock from GBX 200 to GBX 210. Berenberg Bank currently has a buy rating on the stock. Currys traded as high as GBX 146 and last traded at GBX 139.26. Approximately 565,698,688 shares changed hands during mid-day trading, an increase of 6,247% from the average daily volume of 8,913,231 shares. The stock had previously closed at GBX 126.60.

Separately, Citigroup boosted their price target on Currys from GBX 150 to GBX 166 and gave the company a “buy” rating in a report on Wednesday, October 29th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of GBX 168.67.

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 firm has a market capitalization of £1.47 billion, a P/E ratio of 14.66 and a beta of 1.31. The company has a 50 day moving average of GBX 134.34 and a 200-day moving average of GBX 126.46.

Currys (LON:CURY) last released its earnings results on Thursday, December 18th. The company reported GBX 1.60 earnings per share (EPS) for the quarter. Currys had a return on equity of 9.53% and a net margin of 2.38%. On average, sell-side analysts predict that Currys plc will post 9.5199569 EPS for the current year.

Currys announced that its Board of Directors has authorized a share repurchase program on Thursday, September 4th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

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.