discoverIE Group (LON:DSCV) Reaches New 12-Month High – Still a Buy?

discoverIE Group plc (LON:DSCV) reached a new 52-week high during mid-day trading on Wednesday. The company traded as high as GBX 862 and last traded at GBX 819, with a volume of 24184 shares traded. The stock had previously closed at GBX 821.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DSCV. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 685 target price on shares of discoverIE Group in a research note on Thursday, June 4th. Royal Bank Of Canada cut shares of discoverIE Group to a “sector perform” rating and set a GBX 800 price target on the stock. in a report on Friday, June 5th. Berenberg Bank reiterated a “buy” rating and issued a GBX 1,050 price objective on shares of discoverIE Group in a research note on Monday, July 27th. Peel Hunt reissued a “buy” rating and set a GBX 1,000 price objective on shares of discoverIE Group in a report on Friday, July 24th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 870 target price on shares of discoverIE Group in a research report on Tuesday, June 23rd. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of GBX 894.38.

discoverIE Group Stock Performance

The company has a debt-to-equity ratio of 72.98, a current ratio of 1.45 and a quick ratio of 0.96. The firm has a market capitalization of £783.44 million, a PE ratio of 27.72 and a beta of 1.29. The company’s fifty day simple moving average is GBX 781.02 and its 200 day simple moving average is GBX 696.81.

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.