discoverIE Group (LON:DSCV) Trading Down 1.5% – What’s Next?

discoverIE Group plc (LON:DSCV) shares dropped 1.5% during trading on Friday . The company traded as low as GBX 591 and last traded at GBX 591. Approximately 971,962 shares traded hands during trading, an increase of 165% from the average daily volume of 366,724 shares. The stock had previously closed at GBX 600.

Analyst Ratings Changes

Several research firms have weighed in on DSCV. Shore Capital reiterated a “buy” rating and issued a GBX 750 price objective on shares of discoverIE Group in a research note on Tuesday, December 2nd. Berenberg Bank restated a “buy” rating and set a GBX 950 price target on shares of discoverIE Group in a report on Friday, December 5th. Deutsche Bank Aktiengesellschaft upgraded discoverIE Group to a “buy” rating and increased their price objective for the stock from GBX 735 to GBX 850 in a report on Monday, December 1st. Finally, JPMorgan Chase & Co. restated a “buy” rating and issued a GBX 1,000 target price on shares of discoverIE Group in a research note on Wednesday, December 3rd. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat, discoverIE Group presently has a consensus rating of “Buy” and a consensus target price of GBX 830.

discoverIE Group Stock Down 1.5%

The company has a current ratio of 1.55, a quick ratio of 0.96 and a debt-to-equity ratio of 77.88. The business’s fifty day moving average price is GBX 588.38 and its two-hundred day moving average price is GBX 622.57. The firm has a market cap of £568.08 million, a P/E ratio of 22.47 and a beta of 1.09.

discoverIE Group (LON:DSCV) last issued its quarterly earnings data on Tuesday, December 2nd. The company reported GBX 19.50 earnings per share (EPS) for the quarter. discoverIE Group had a net margin of 3.55% and a return on equity of 5.10%. As a group, equities research analysts anticipate that discoverIE Group plc will post 37.5 EPS for the current year.

Insider Activity

In related news, insider Bruce Thompson acquired 15,000 shares of the stock in a transaction dated Wednesday, December 10th. The shares were acquired at an average price of GBX 605 per share, with a total value of £90,750. Company insiders own 3.73% of the company’s stock.

About discoverIE Group

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.