discoverIE Group (LON:DSCV) Rating Increased to Outperform at Royal Bank of Canada

discoverIE Group (LON:DSCV - Get Free Report) was upgraded by Royal Bank of Canada to an "outperform" rating in a report issued on Tuesday, Marketbeat Ratings reports. The firm currently has a GBX 600 ($7.98) target price on the stock, down from their prior target price of GBX 690 ($9.17). Royal Bank of Canada's price objective would indicate a potential upside of 7.14% from the stock's current price.

Separately, Shore Capital reissued a "hold" rating on shares of discoverIE Group in a research note on Thursday, January 30th.

discoverIE Group Stock Performance

Shares of DSCV stock remained flat at GBX 560 ($7.45) during trading hours on Tuesday. 185,792 shares of the company's stock traded hands, compared to its average volume of 416,532. The stock has a market capitalization of £542.81 million, a P/E ratio of 34.98 and a beta of 1.09. The stock has a 50-day simple moving average of GBX 550.78 and a 200 day simple moving average of GBX 623.96. discoverIE Group has a 52-week low of GBX 472.50 ($6.28) and a 52-week high of GBX 788 ($10.48). The company has a quick ratio of 0.96, a current ratio of 1.55 and a debt-to-equity ratio of 77.88.

Insiders Place Their Bets

In other discoverIE Group news, insider Bruce Thompson bought 12,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average price of GBX 544 ($7.23) per share, for a total transaction of £65,280 ($86,796.97). Also, insider Clive Watson purchased 5,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average price of GBX 543 ($7.22) per share, for a total transaction of £27,150 ($36,098.92). Insiders have bought a total of 17,175 shares of company stock valued at $9,349,400 in the last quarter. Insiders own 4.50% of the company's stock.

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 and industrial & connectivity. The Group employs c.4,500 people across 20 countries.