discoverIE Group (LON:DSCV) Hits New 12-Month High – Should You Buy?

discoverIE Group plc (LON:DSCV)’s share price hit a new 52-week high during trading on Wednesday. The stock traded as high as GBX 863 and last traded at GBX 836, with a volume of 34542 shares traded. The stock had previously closed at GBX 822.

Wall Street Analysts Forecast Growth

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

discoverIE Group Stock Performance

The firm’s fifty day moving average price is GBX 793.38 and its 200 day moving average price is GBX 705.57. 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 firm has a market capitalization of £812.27 million, a PE ratio of 28.74 and a beta of 1.29.

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.