Disco (OTCMKTS:DSCSY) Shares Gap Up – Here’s Why

Disco Corp (OTCMKTS:DSCSY)’s share price gapped up before the market opened on Monday. The stock had previously closed at $23.20, but opened at $27.08. Disco shares last traded at $27.9150, with a volume of 21,218 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DSCSY shares. Jefferies Financial Group raised shares of Disco from a “hold” rating to a “buy” rating in a research note on Monday, July 27th. Zacks Research raised shares of Disco from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat.com, Disco presently has an average rating of “Strong Buy”.

Disco Price Performance

The firm has a fifty day simple moving average of $34.32 and a 200 day simple moving average of $41.45. The company has a market cap of $31.26 billion, a price-to-earnings ratio of 30.64 and a beta of 1.67.

Disco (OTCMKTS:DSCSY) last released its quarterly earnings results on Thursday, October 22nd. The company reported $0.27 EPS for the quarter. Disco had a net margin of 32.04% and a return on equity of 27.68%. The company had revenue of $897.04 million for the quarter. Analysts expect that Disco Corp will post 1.11 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Disco stock. Azimuth Capital Investment Management LLC bought a new position in Disco Corp (OTCMKTS:DSCSY) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 237,250 shares of the company’s stock, valued at approximately $11,862,000. 0.03% of the stock is owned by institutional investors.

About Disco