Stifel Nicolaus Reiterates "Buy" Rating for discoverIE Group (LON:DSCV)

Key Points

• Stifel Nicolaus reiterated a Buy rating on discoverIE Group (LON:DSCV) with a price target of GBX 1,000, implying about a 52.9% upside from the prior close.
• Analyst consensus is a "Moderate Buy" (five Buys, one Hold) with a consensus target of GBX 872.50; the stock traded at GBX 654 with a market cap of roughly £635 million and a P/E of 24.87.
• Insiders increased their stakes recently—Clive Watson bought 200 shares and Simon Gibbins bought 2,601 shares—and company insiders now own about 3.7% of the stock.

discoverIE Group (LON:DSCV - Get Free Report)'s stock had its "buy" rating reissued by research analysts at Stifel Nicolaus in a research report issued on Friday,London Stock Exchange reports. They currently have a GBX 1,000 price objective on the stock. Stifel Nicolaus' price objective points to a potential upside of 52.91% from the company's previous close.

A number of other equities research analysts have also recently weighed in on the company. Jefferies Financial Group reaffirmed a "hold" rating and set a GBX 685 price target on shares of discoverIE Group in a report on Friday. Shore Capital Group reaffirmed a "buy" rating on shares of discoverIE Group in a report on Monday, February 2nd. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, discoverIE Group has an average rating of "Moderate Buy" and a consensus price target of GBX 872.50.

discoverIE Group Price Performance

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

Insiders Place Their Bets

In other news, insider Clive Watson acquired 200 shares of the firm's stock in a transaction on Thursday, February 12th. The shares were purchased at an average cost of GBX 640 per share, for a total transaction of £1,280. Also, insider Simon Gibbins acquired 2,601 shares of the firm's stock in a transaction on Monday, January 26th. The stock was purchased at an average price of GBX 623 per share, for a total transaction of £16,204.23. 3.70% of the stock is currently owned by company 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. Its principal operating units are located in Continental Europe, the UK, China, Sri Lanka, India, Thailand, Mexico and the USA.

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