Berenberg Bank Reaffirms “Buy” Rating for discoverIE Group (LON:DSCV)

discoverIE Group (LON:DSCV)‘s stock had its “buy” rating reiterated by analysts at Berenberg Bank in a research note issued to investors on Thursday,Digital Look reports. They currently have a GBX 950 price target on the stock. Berenberg Bank’s price objective suggests a potential upside of 45.47% from the stock’s previous close.

A number of other brokerages have also weighed in on DSCV. Stifel Nicolaus restated a “buy” rating and set a GBX 1,000 price target on shares of discoverIE Group in a research note on Friday, April 17th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 870 price target on shares of discoverIE Group in a research note on Monday. Shore Capital Group restated a “buy” rating on shares of discoverIE Group in a research note on Friday, April 17th. Finally, Jefferies Financial Group restated a “hold” rating and set a GBX 685 price target on shares of discoverIE Group in a research note on Friday, April 17th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, discoverIE Group presently has a consensus rating of “Moderate Buy” and an average price target of GBX 875.83.

discoverIE Group Trading Down 0.9%

DSCV traded down GBX 5.94 during trading on Thursday, reaching GBX 653.06. The company had a trading volume of 133,903 shares, compared to its average volume of 1,447,933. The business has a 50 day simple moving average of GBX 598.72 and a 200-day simple moving average of GBX 597.64. discoverIE Group has a 52 week low of GBX 505 and a 52 week high of GBX 754. The company has a quick ratio of 0.96, a current ratio of 1.48 and a debt-to-equity ratio of 83.72. The stock has a market cap of £634.26 million, a P/E ratio of 24.83 and a beta of 1.14.

Insider Buying and Selling

In related news, insider Simon Gibbins purchased 2,601 shares of the firm’s stock in a transaction on Monday, January 26th. The stock was bought at an average cost of GBX 623 per share, with a total value of £16,204.23. Also, insider Clive Watson bought 200 shares of discoverIE Group stock in a transaction dated Thursday, February 12th. The shares were acquired at an average cost of GBX 640 per share, with a total value of £1,280. 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.