discoverIE Group (LON:DSCV) Sets New 12-Month High – Here’s Why

discoverIE Group plc (LON:DSCV)’s stock price hit a new 52-week high during mid-day trading on Tuesday. The company traded as high as GBX 867 and last traded at GBX 858, with a volume of 501361 shares. The stock had previously closed at GBX 850.

Analysts Set New Price Targets

A number of research firms have commented on DSCV. Peel Hunt reaffirmed a “buy” rating and issued a GBX 1,000 target price on shares of discoverIE Group in a research report on Friday, July 24th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 870 price target on shares of discoverIE Group in a research report on Tuesday, June 23rd. Finally, Berenberg Bank reissued a “buy” rating and issued a GBX 1,050 price target on shares of discoverIE Group in a research note on Monday, July 27th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of GBX 894.38.

discoverIE Group Stock Performance

The company has a quick ratio of 0.96, a current ratio of 1.45 and a debt-to-equity ratio of 72.98. The firm has a 50-day moving average price of GBX 800.91 and a 200 day moving average price of GBX 713.57. The firm has a market capitalization of £804.58 million, a PE ratio of 28.47 and a beta of 1.29.

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.