Berenberg Bank Reiterates "Buy" Rating for discoverIE Group (LON:DSCV)

Key Points

• Berenberg Bank reaffirmed a "buy" rating for discoverIE Group (DSCV) with a price target of GBX 950, indicating a potential upside of 60.20% from the current stock price.
• Shore Capital also maintained a "buy" rating with a lower price target of GBX 750, contributing to an average "buy" rating across three research analysts.
• Insider Clive Watson purchased 402 shares of discoverIE Group at an average cost of GBX 670, highlighting the confidence of insiders in the company's prospects.

Berenberg Bank reiterated their buy rating on shares of discoverIE Group (LON:DSCV - Free Report) in a research note issued to investors on Wednesday, MarketBeat.com reports. Berenberg Bank currently has a GBX 950 price target on the stock.

Separately, Shore Capital reiterated a "buy" rating and set 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, Based on data from MarketBeat, discoverIE Group presently has a consensus rating of "Buy" and a consensus price target of GBX 766.67.

discoverIE Group Stock Down 0.3%

Shares of DSCV traded down GBX 1.84 on Wednesday, reaching GBX 598.16. The stock had a trading volume of 214,186 shares, compared to its average volume of 302,700. The company has a 50-day simple moving average of GBX 660.40 and a 200-day simple moving average of GBX 616.40. The firm has a market capitalization of £574.57 million, a price-to-earnings ratio of 2,392.63 and a beta of 1.09. discoverIE Group has a 12-month low of GBX 472.50 and a 12-month high of GBX 754. The company has a debt-to-equity ratio of 77.88, a quick ratio of 0.96 and a current ratio of 1.55.

Insider Buying and Selling at discoverIE Group

In other discoverIE Group news, insider Clive Watson purchased 402 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was purchased at an average price of GBX 670 per share, for a total transaction of £2,693.40. 3.73% of the stock is owned by corporate insiders.

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