discoverIE Group (LON:DSCV) Trading 1.7% Higher – Should You Buy?

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

Analysts Set New Price Targets

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

discoverIE Group Trading Up 1.7%

The company has a current ratio of 1.45, a quick ratio of 0.96 and a debt-to-equity ratio of 72.98. The business has a 50 day moving average of GBX 757.63 and a 200-day moving average of GBX 686.55. The stock has a market cap of £759.40 million, a PE ratio of 26.87 and a beta of 1.29.

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.