Berenberg Bank Reaffirms 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 reissued their buy rating on shares of discoverIE Group (LON:DSCV - Free Report) in a research note published on Wednesday, MarketBeat Ratings reports. They currently have a GBX 950 price objective on the stock.

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

discoverIE Group Stock Down 1.0%

Shares of DSCV stock traded down GBX 6 on Wednesday, hitting GBX 595. The company's stock had a trading volume of 261,096 shares, compared to its average volume of 301,825. The company has a debt-to-equity ratio of 77.88, a current ratio of 1.55 and a quick ratio of 0.96. discoverIE Group has a fifty-two week low of GBX 472.50 and a fifty-two week high of GBX 754. The firm's fifty day moving average price is GBX 658.49 and its 200-day moving average price is GBX 617.14. The stock has a market capitalization of £571.54 million, a price-to-earnings ratio of 2,380.00 and a beta of 1.09.

Insiders Place Their Bets

In other discoverIE Group news, insider Clive Watson bought 402 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were acquired at an average price of GBX 670 per share, with a total value of £2,693.40. 3.73% of the stock is currently owned by 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.