Royal Bank of Canada Upgrades discoverIE Group (LON:DSCV) to Outperform

discoverIE Group (LON:DSCV) was upgraded by Royal Bank of Canada to an “outperform” rating in a report released on Tuesday,London Stock Exchange reports. The brokerage currently has a GBX 600 ($7.91) price objective on the stock, down from their prior price objective of GBX 690 ($9.10). Royal Bank of Canada’s price target suggests a potential upside of 10.91% from the stock’s current price.

Separately, Shore Capital reaffirmed a “hold” rating on shares of discoverIE Group in a research report on Thursday, January 30th.

discoverIE Group Stock Performance

discoverIE Group stock traded up GBX 26 ($0.34) during trading on Tuesday, hitting GBX 541 ($7.13). The stock had a trading volume of 406,656 shares, compared to its average volume of 420,383. The stock’s 50 day moving average is GBX 554.78 and its two-hundred day moving average is GBX 625.02. discoverIE Group has a 1 year low of GBX 472.50 ($6.23) and a 1 year high of GBX 788 ($10.39). The stock has a market cap of £524.39 million, a price-to-earnings ratio of 33.79 and a beta of 1.09. The company has a quick ratio of 0.96, a current ratio of 1.55 and a debt-to-equity ratio of 77.88.

Insiders Place Their Bets

In other discoverIE Group news, insider Bruce Thompson acquired 12,000 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of GBX 544 ($7.17) per share, with a total value of £65,280 ($86,075.95). Also, insider Clive Watson purchased 5,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was bought at an average cost of GBX 543 ($7.16) per share, for a total transaction of £27,150 ($35,799.05). Insiders have purchased a total of 17,175 shares of company stock worth $9,349,400 over the last 90 days. Corporate insiders own 4.50% of the company’s stock.

discoverIE Group Company Profile

discoverIE Group plc is an international group of businesses that design and manufacture innovative electronic components for industrial use. The Group provides application-specific components to original equipment manufacturers (“OEMs”) internationally, with a focus on key markets driven by structural growth and increasing electronic content, namely renewable energy, medical, transportation and industrial & connectivity.

The Group employs c.4,500 people across 20 countries.