discoverIE Group (LON:DSCV) Shares Up 1.5% – Should You Buy?

discoverIE Group plc (LON:DSCV)’s stock price shot up 1.5% during trading on Thursday . The stock traded as high as GBX 610 ($8.13) and last traded at GBX 598 ($7.97). 209,386 shares changed hands during trading, a decline of 29% from the average session volume of 292,914 shares. The stock had previously closed at GBX 589 ($7.85).

Analysts Set New Price Targets

DSCV has been the subject of a number of recent analyst reports. Shore Capital reaffirmed a “hold” rating and issued a GBX 750 price objective on shares of discoverIE Group in a research report on Tuesday, October 14th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 950 price objective on shares of discoverIE Group in a research report on Wednesday, September 10th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of GBX 766.67.

discoverIE Group Stock Up 1.5%

The company has a current ratio of 1.55, a quick ratio of 0.96 and a debt-to-equity ratio of 77.88. The stock’s 50-day simple moving average is GBX 606.74 and its 200-day simple moving average is GBX 624.51. The firm has a market capitalization of £574.42 million, a P/E ratio of 23.92 and a beta of 1.09.

Insiders Place Their Bets

In related news, insider Clive Watson bought 402 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were purchased at an average cost of GBX 670 per share, for a total transaction of £2,693.40. 3.73% of the stock is currently owned by insiders.

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.