discoverIE Group (LON:DSCV) Given Buy Rating at Berenberg Bank

Berenberg Bank restated their buy rating on shares of discoverIE Group (LON:DSCV - Free Report) in a research report released on Wednesday morning, Marketbeat reports. The brokerage currently has a GBX 950 ($12.71) price objective on the stock.

Several other equities research analysts also recently weighed in on the stock. Royal Bank of Canada raised shares of discoverIE Group to an "outperform" rating and reduced their target price for the company from GBX 690 ($9.23) to GBX 600 ($8.03) in a research note on Tuesday, April 15th. Shore Capital raised shares of discoverIE Group to a "buy" rating in a research report on Wednesday, April 16th.

discoverIE Group Price Performance

DSCV stock traded down GBX 40 ($0.54) during trading on Wednesday, hitting GBX 520 ($6.96). 311,948 shares of the company's stock traded hands, compared to its average volume of 415,174. The business has a fifty day simple moving average of GBX 550.02 and a 200 day simple moving average of GBX 623.88. discoverIE Group has a 52 week low of GBX 472.50 ($6.32) and a 52 week high of GBX 788 ($10.54). The company has a debt-to-equity ratio of 77.88, a quick ratio of 0.96 and a current ratio of 1.55. The stock has a market capitalization of £504.04 million, a price-to-earnings ratio of 32.48 and a beta of 1.09.

Insider Buying and Selling

In related news, insider Bruce Thompson bought 12,000 shares of the stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of GBX 544 ($7.28) per share, for a total transaction of £65,280 ($87,354.48). Also, insider Clive Watson purchased 5,000 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of GBX 543 ($7.27) per share, for a total transaction of £27,150 ($36,330.79). Insiders have purchased 17,175 shares of company stock valued at $9,349,400 in the last 90 days. Company insiders own 4.50% 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 and industrial & connectivity. The Group employs c.4,500 people across 20 countries.