Currys’ (CURY) “Buy” Rating Reiterated at Berenberg Bank

Berenberg Bank reaffirmed their buy rating on shares of Currys (LON:CURY) in a research report released on Thursday morning,Digital Look reports. Berenberg Bank currently has a GBX 210 price target on the stock.

A number of other equities research analysts have also commented on CURY. Citigroup raised their price objective on shares of Currys from GBX 168 to GBX 184 and gave the stock a “buy” rating in a report on Friday, July 3rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 155 target price on shares of Currys in a report on Wednesday, May 20th. Finally, Royal Bank Of Canada raised Currys to an “outperform” rating and dropped their price target for the company from GBX 180 to GBX 165 in a research note on Tuesday, June 16th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of GBX 178.50.

Currys Stock Performance

CURY opened at GBX 147.70 on Thursday. The stock’s 50 day simple moving average is GBX 157.88 and its 200-day simple moving average is GBX 147.03. Currys has a 1 year low of GBX 116.70 and a 1 year high of GBX 169.50. The company has a current ratio of 0.89, a quick ratio of 0.29 and a debt-to-equity ratio of 39.53. The stock has a market cap of £1.51 billion, a PE ratio of 10.19 and a beta of 1.25.

Currys (LON:CURY) last announced its earnings results on Thursday, July 2nd. The company reported GBX 13.40 EPS for the quarter. Currys had a net margin of 1.78% and a return on equity of 7.10%. Sell-side analysts forecast that Currys will post 9.5199569 EPS for the current year.

Currys announced that its board has initiated a share buyback plan on Thursday, July 2nd that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Currys

In related news, insider Bruce Marsh sold 135,051 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of GBX 164, for a total value of £221,483.64. Also, insider Alex Baldock sold 1,742,877 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of GBX 165, for a total transaction of £2,875,747.05. Insiders have sold a total of 2,872,081 shares of company stock valued at $473,701,376 over the last 90 days. 16.03% of the stock is owned by corporate insiders.

Key Currys News

Here are the key news stories impacting Currys this week:

• Positive Sentiment: Currys reported a strong start to its financial year, with like-for-like revenue up 7% over the first 17 weeks. The company said trading was supported by heatwaves and World Cup-related demand for televisions and fan products, and remains on track to meet its full-year expectations. Currys reports strong start to year boosted by heatwaves and World Cup
• Positive Sentiment: Berenberg reaffirmed its “buy” rating and GBX 210 price target, implying substantial upside to recent trading levels and signaling continued confidence in Currys’ valuation and outlook. Berenberg reaffirms Currys buy rating
• Positive Sentiment: Director Elaine Bucknor purchased 2,600 Currys shares at an average of GBX 151, following another purchase in August. Insider buying can be viewed as a modest confidence signal, although the transaction is small relative to the company’s market value. Elaine Bucknor acquires Currys shares
• Neutral Sentiment: Shareholders approved all resolutions at Currys’ 10 September annual meeting. However, dissent over the appointment of a new director highlights a governance issue that investors may continue to monitor. Currys AGM backs governance measures
• Neutral Sentiment: A new AMV BBDO advertising campaign built around “viral dad energy” may support brand engagement, but it is unlikely to materially affect near-term earnings. Currys and AMV BBDO advertising campaign
• Negative Sentiment: GlobalData cautioned that rival mobile networks are increasingly competing with Currys in technology and handset sales, potentially limiting growth in a strategically important category. This concern helps explain why the stock has weakened despite the 7% revenue increase. GlobalData warns of mobile network competition

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.