discoverIE Group (LON:DSCV) Stock Price Crosses Below 50-Day Moving Average – Should You Sell?

discoverIE Group plc (LON:DSCV) passed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of GBX 815.88 and traded as low as GBX 795.20. discoverIE Group shares last traded at GBX 813, with a volume of 1,662,794 shares.

Analyst Ratings Changes

Several research analysts have recently issued reports on DSCV shares. Berenberg Bank upped their target price on shares of discoverIE Group from GBX 1,050 to GBX 1,100 and gave the stock a “buy” rating in a research note on Thursday, October 15th. Jefferies Financial Group reissued a “hold” rating and set a GBX 685 price target on shares of discoverIE Group in a research report on Thursday, October 15th. Peel Hunt restated a “buy” rating and issued a GBX 1,000 price objective on shares of discoverIE Group in a report on Friday, July 24th. Finally, Deutsche Bank upped their price objective on discoverIE Group from GBX 940 to GBX 1,000 and gave the company a “buy” rating in a research report on Thursday, October 15th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 916.88.

discoverIE Group Price Performance

The firm has a market capitalization of £768.05 million, a PE ratio of 27.18 and a beta of 1.29. 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 50-day simple moving average of GBX 815.88 and a 200-day simple moving average of GBX 711.39.

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.