Currys (LON:CURY) Shares Cross Below Fifty Day Moving Average – Here’s Why

Currys plc (LON:CURY) shares passed 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 changing hands.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CURY shares. Royal Bank Of Canada raised Currys to an “outperform” rating and reduced their price objective for the stock from GBX 180 to GBX 165 in a research report on Tuesday, June 16th. Citigroup boosted their target price on Currys from GBX 168 to GBX 184 and gave the company a “buy” rating in a research note on Friday, July 3rd. Finally, Berenberg Bank reaffirmed a “buy” rating and set a GBX 210 price target on shares of Currys in a research note on Thursday, September 10th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of GBX 178.50.

Currys Trading Up 0.9%

The company has a debt-to-equity ratio of 39.53, a current ratio of 0.89 and a quick ratio of 0.29. The business has a 50-day moving average of GBX 152.97 and a 200-day moving average of GBX 146.58. The firm has a market cap of £1.49 billion, a price-to-earnings ratio of 10.08 and a beta of 1.25.

Currys announced that its Board of Directors has initiated a share repurchase program on Thursday, July 2nd that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, insider Elaine Bucknor purchased 2,600 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was purchased at an average price of GBX 151 per share, for a total transaction of £3,926. Also, insider Bruce Marsh sold 135,051 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of GBX 164, for a total transaction of £221,483.64. In the last 90 days, insiders sold 2,872,081 shares of company stock valued at $473,701,376. 16.03% of the stock is owned by 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.