discoverIE Group (LON:DSCV) Trading Up 0.5% Following Insider Buying Activity

Key Points

• discoverIE Group plc's share price rose 0.5% following recent insider buying, where insider Clive Watson purchased a total of 465 shares at an average price of GBX 670 ($9.07).
• Analysts have maintained a "buy" rating for the stock, with target prices of GBX 950 ($12.85) from Berenberg Bank and GBX 750 ($10.15) from Shore Capital.
• The company's latest earnings report showed an EPS of GBX 39.70 ($0.54) and analysts expect a total EPS of 37.5 for the current fiscal year.

discoverIE Group plc (LON:DSCV - Get Free Report) shares were up 0.5% during trading on Thursday following insider buying activity. The company traded as high as GBX 665 ($8.98) and last traded at GBX 659 ($8.90). Approximately 46,918 shares traded hands during trading, a decline of 84% from the average daily volume of 288,835 shares. The stock had previously closed at GBX 656 ($8.86).

Specifically, insider Clive Watson purchased 402 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were acquired at an average price of GBX 670 per share, for a total transaction of £2,693.40. Also, insider Clive Watson acquired 63 shares of the stock in a transaction dated Wednesday, August 13th. The stock was bought at an average cost of GBX 670 per share, with a total value of £422.10.

Analyst Upgrades and Downgrades

Separately, Shore Capital reissued a "buy" rating and issued a GBX 750 price objective on shares of discoverIE Group in a research note on Thursday, July 24th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of GBX 766.67.

discoverIE Group Trading Up 1.1%

The company has a market capitalization of £636.83 million, a P/E ratio of 41.04 and a beta of 1.09. The company has a debt-to-equity ratio of 77.88, a current ratio of 1.55 and a quick ratio of 0.96. The firm has a fifty day moving average price of GBX 679.29 and a 200-day moving average price of GBX 612.63.

discoverIE Group (LON:DSCV - Get Free Report) last announced its quarterly earnings data on Wednesday, June 4th. The company reported GBX 39.70 earnings per share for the quarter. discoverIE Group had a return on equity of 5.10% and a net margin of 3.55%. On average, equities research analysts anticipate that discoverIE Group plc will post 37.5 earnings per share for the current year.

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.