discoverIE Group (LON:DSCV) Sets New 52-Week High – Here’s What Happened

Shares of discoverIE Group plc (LON:DSCV) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 778 and last traded at GBX 756, with a volume of 280894 shares changing hands. The stock had previously closed at GBX 764.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on DSCV shares. Shore Capital Group restated a “buy” rating on shares of discoverIE Group in a research note on Friday, April 17th. Berenberg Bank reiterated a “buy” rating and set a GBX 950 target price on shares of discoverIE Group in a research report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 870 target price on shares of discoverIE Group in a research report on Monday, April 20th. Stifel Nicolaus reiterated a “buy” rating and set a GBX 1,000 target price on shares of discoverIE Group in a research report on Friday, April 17th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a GBX 685 target price on shares of discoverIE Group in a research report on Friday, April 17th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of GBX 875.83.

discoverIE Group Stock Down 1.0%

The company has a debt-to-equity ratio of 83.72, a quick ratio of 0.96 and a current ratio of 1.48. The stock has a market cap of £734.23 million, a price-to-earnings ratio of 28.75 and a beta of 1.19. The firm’s 50-day simple moving average is GBX 637.55 and its two-hundred day simple moving average is GBX 617.01.

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.