discoverIE Group (LON:DSCV) Trading Up 3% - Here's Why

discoverIE Group plc (LON:DSCV - Get Free Report)'s stock price traded up 3% during mid-day trading on Thursday . The stock traded as high as GBX 711 ($9.55) and last traded at GBX 711 ($9.55). 113,294 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 314,334 shares. The stock had previously closed at GBX 690 ($9.27).

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on DSCV shares. Shore Capital upgraded discoverIE Group to a "buy" rating in a report on Wednesday, April 16th. Berenberg Bank reiterated a "buy" rating and issued a GBX 950 ($12.76) price target on shares of discoverIE Group in a report on Wednesday, April 16th. Finally, Royal Bank Of Canada raised discoverIE Group to an "outperform" rating and lowered their price objective for the stock from GBX 690 ($9.27) to GBX 600 ($8.06) in a research report on Tuesday, April 15th.

discoverIE Group Stock Up 3.0%

The company has a quick ratio of 0.96, a current ratio of 1.55 and a debt-to-equity ratio of 77.88. The business has a 50-day moving average price of GBX 658.56 and a 200-day moving average price of GBX 611.33. The firm has a market capitalization of £689.17 million, a PE ratio of 44.41 and a beta of 1.09.

discoverIE Group (LON:DSCV - Get Free Report) last announced its quarterly earnings data on Wednesday, June 4th. The company reported GBX 39.70 ($0.53) earnings per share (EPS) for the quarter. discoverIE Group had a return on equity of 5.10% and a net margin of 3.55%. Equities research analysts forecast that discoverIE Group plc will post 37.5 earnings per share for the current fiscal 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 and industrial & connectivity. The Group employs c.4,500 people across 20 countries.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.