discoverIE Group (LON:DSCV) Stock Crosses Above 50 Day Moving Average - Time to Sell?

Key Points

• discoverIE Group shares crossed above their 50-day moving average, reaching GBX 843 and last trading at GBX 836, above the GBX 809.26 average.
• Analyst sentiment is positive: six analysts rate the stock a Buy and two rate it Hold, producing a “Moderate Buy” consensus and an average price target of GBX 916.88. Deutsche Bank and Berenberg recently raised their targets to GBX 1,000 and GBX 1,100, respectively.
• The company has an £801.7 million market capitalization, a P/E ratio of 28.37, and manufactures electronic components for industrial markets including renewable energy, medical, transportation, and security.

discoverIE Group plc (LON:DSCV - Get Free Report) crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of GBX 809.26 and traded as high as GBX 843. discoverIE Group shares last traded at GBX 836, with a volume of 4,958,656 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently weighed in on DSCV. Deutsche Bank Aktiengesellschaft upped their price target on shares of discoverIE Group from GBX 940 to GBX 1,000 and gave the stock a "buy" rating in a research report on Thursday, October 15th. Berenberg Bank lifted their price objective on shares of discoverIE Group from GBX 1,050 to GBX 1,100 and gave the company a "buy" rating in a report on Thursday, October 15th. Peel Hunt reissued a "buy" rating and issued a GBX 1,000 price objective on shares of discoverIE Group in a research note on Friday, July 24th. Finally, Jefferies Financial Group restated a "hold" rating and set a GBX 685 target price on shares of discoverIE Group in a report on Thursday, October 15th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of GBX 916.88.

discoverIE Group Price Performance

The firm has a 50-day simple moving average of GBX 809.26 and a two-hundred day simple moving average of GBX 698.90. The company has a market capitalization of £801.70 million, a price-to-earnings ratio of 28.37 and a beta of 1.29. The company has a current ratio of 1.45, a quick ratio of 0.96 and a debt-to-equity ratio of 72.98.

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. Its principal operating units are located in Continental Europe, the UK, China, Sri Lanka, India, Thailand, Mexico and the USA.

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