discoverIE Group (LON:DSCV) Stock Price Up 3% – Here’s What Happened

discoverIE Group plc (LON:DSCV) shares traded up 3% during trading on Wednesday . The company traded as high as GBX 717 and last traded at GBX 716. Approximately 130,254 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 1,170,802 shares. The stock had previously closed at GBX 695.

Analyst Ratings Changes

DSCV has been the topic of a number of research analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a GBX 1,000 target price on shares of discoverIE Group in a report on Friday, April 17th. Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 685 price objective on shares of discoverIE Group in a research note on Thursday, June 4th. Royal Bank Of Canada downgraded shares of discoverIE Group to a “sector perform” rating and set a GBX 800 target price on the stock. in a report on Friday, June 5th. Berenberg Bank raised their target price on shares of discoverIE Group from GBX 950 to GBX 1,050 and gave the stock a “buy” rating in a report on Friday, June 5th. Finally, Shore Capital Group restated a “buy” rating on shares of discoverIE Group in a report on Friday, April 17th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of GBX 879.29.

discoverIE Group Stock Up 3.0%

The business has a 50-day moving average price of GBX 700.69 and a 200-day moving average price of GBX 643.88. The company has a market capitalization of £688.27 million, a price-to-earnings ratio of 24.35 and a beta of 1.28. The company has a quick ratio of 0.96, a current ratio of 1.45 and a debt-to-equity ratio of 72.98.

discoverIE Group (LON:DSCV) last announced its earnings results on Wednesday, June 3rd. The company reported GBX 41.30 EPS for the quarter. The business had revenue of £443.30 million during the quarter. discoverIE Group had a return on equity of 9.04% and a net margin of 6.54%. As a group, equities analysts anticipate that discoverIE Group plc will post 37.5 earnings per share for the current fiscal year.

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.