Shore Capital Group Reiterates Buy Rating for discoverIE Group (LON:DSCV)

Key Points

• Shore Capital Group reiterated a Buy rating on discoverIE Group (LON:DSCV); the stock carries a "Moderate Buy" consensus from analysts with an average target of GBX 872.50 (Stifel: Buy at GBX 1,000; Jefferies: Hold at GBX 685).
• The shares traded up to GBX 654 on Friday with 9,588,591 shares exchanged — far above average volume — giving the company a market cap of £635.17 million and a P/E of 24.87.
• Insiders made recent purchases (Simon Gibbins 2,601 shares at GBX 623; Clive Watson 200 shares at GBX 640), and insiders now own 3.70% of the company.

discoverIE Group (LON:DSCV - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at Shore Capital Group in a research note issued on Friday,Digital Look reports.

A number of other equities analysts also recently commented on the stock. Stifel Nicolaus reaffirmed a "buy" rating and set a GBX 1,000 price objective on shares of discoverIE Group in a report on Friday. Jefferies Financial Group reaffirmed a "hold" rating and set a GBX 685 price objective on shares of discoverIE Group in a report on Friday. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, discoverIE Group presently has an average rating of "Moderate Buy" and an average target price of GBX 872.50.

discoverIE Group Price Performance

Shares of LON:DSCV traded up GBX 31 during midday trading on Friday, reaching GBX 654. 9,588,591 shares of the company's stock were exchanged, compared to its average volume of 1,415,678. The company's 50 day simple moving average is GBX 596.80 and its two-hundred day simple moving average is GBX 596.53. The firm has a market capitalization of £635.17 million, a PE ratio of 24.87 and a beta of 1.14. discoverIE Group has a 12 month low of GBX 505 and a 12 month high of GBX 754. The company has a debt-to-equity ratio of 83.72, a quick ratio of 0.96 and a current ratio of 1.48.

Insider Activity

In other news, insider Simon Gibbins purchased 2,601 shares of the business's stock in a transaction that occurred on Monday, January 26th. The stock was purchased at an average cost of GBX 623 per share, with a total value of £16,204.23. Also, insider Clive Watson purchased 200 shares of the business's stock in a transaction that occurred on Thursday, February 12th. The shares were purchased at an average cost of GBX 640 per share, with a total value of £1,280. Company insiders own 3.70% of the company's stock.

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, 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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