discoverIE Group (LON:DSCV) Shares Up 1.7% – Time to Buy?

Shares of discoverIE Group plc (LON:DSCV) rose 1.7% on Friday . The stock traded as high as GBX 792 and last traded at GBX 790. 2,139,371 shares traded hands during trading, an increase of 105% from the average daily volume of 1,046,095 shares. The stock had previously closed at GBX 777.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 870 target price on shares of discoverIE Group in a report on Tuesday, June 23rd. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 1,050 target price on shares of discoverIE Group in a research report on Monday, July 27th. Royal Bank Of Canada lowered shares of discoverIE Group to a “sector perform” rating and set a GBX 800 price target on the stock. in a research note on Friday, June 5th. Jefferies Financial Group reissued a “hold” rating and set a GBX 685 price target on shares of discoverIE Group in a research report on Thursday, June 4th. Finally, Peel Hunt restated a “buy” rating and set a GBX 1,000 price objective on shares of discoverIE Group in a research note on Friday, July 24th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, discoverIE Group currently has a consensus rating of “Moderate Buy” and an average price target of GBX 894.38.

discoverIE Group Stock Performance

The stock has a market capitalization of £759.40 million, a P/E ratio of 26.87 and a beta of 1.29. The stock’s 50-day simple moving average is GBX 757.63 and its 200 day simple moving average is GBX 686.55. The company has a debt-to-equity ratio of 72.98, a current ratio of 1.45 and a quick ratio of 0.96.

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, security, and industrial & connectivity.

The Group employs c.4,500 people across 20 countries. Its principal operating units are located in Continental Europe, the UK, China, Sri Lanka, India, Thailand, Mexico and the USA.