discoverIE Group (LON:DSCV) Stock Price Down 3.6% – What’s Next?

Shares of discoverIE Group plc (LON:DSCV) fell 3.6% on Monday . The company traded as low as GBX 547 and last traded at GBX 558. 3,276,263 shares changed hands during trading, an increase of 409% from the average session volume of 643,288 shares. The stock had previously closed at GBX 579.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Shore Capital Group reiterated a “buy” rating on shares of discoverIE Group in a research note on Monday, February 2nd. Deutsche Bank Aktiengesellschaft raised shares of discoverIE Group to a “buy” rating and lifted their price target for the company from GBX 735 to GBX 850 in a report on Monday, December 1st. JPMorgan Chase & Co. reiterated a “buy” rating and issued a GBX 1,000 price target on shares of discoverIE Group in a research report on Wednesday, December 3rd. Finally, Berenberg Bank restated a “buy” rating and set a GBX 950 price objective on shares of discoverIE Group in a research report on Friday, December 5th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of GBX 830.

discoverIE Group Price Performance

The firm has a 50 day moving average of GBX 622.08 and a 200-day moving average of GBX 604.46. The company has a market cap of £541.94 million, a P/E ratio of 21.22 and a beta of 1.09. The company has a current ratio of 1.48, a quick ratio of 0.96 and a debt-to-equity ratio of 83.72.

Insider Buying and Selling at discoverIE Group

In other news, insider Simon Gibbins bought 2,601 shares of discoverIE Group stock in a transaction dated Monday, January 26th. The shares were 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 company’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. Insiders purchased a total of 17,801 shares of company stock valued at $10,823,423 in the last three months. 3.70% of the stock is currently owned by corporate 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.