discoverIE Group (LON:DSCV) Stock Rating Upgraded by Shore Capital

discoverIE Group (LON:DSCV) was upgraded by investment analysts at Shore Capital to a “buy” rating in a research report issued on Wednesday,London Stock Exchange reports.

Separately, Royal Bank of Canada raised discoverIE Group to an “outperform” rating and dropped their price target for the stock from GBX 690 ($9.13) to GBX 600 ($7.94) in a research note on Tuesday.

discoverIE Group Price Performance

discoverIE Group stock traded up GBX 19 ($0.25) during mid-day trading on Wednesday, hitting GBX 560 ($7.41). The company’s stock had a trading volume of 362,307 shares, compared to its average volume of 419,608. discoverIE Group has a twelve month low of GBX 472.50 ($6.25) and a twelve month high of GBX 788 ($10.43). The stock’s fifty day moving average price is GBX 553.24 and its two-hundred day moving average price is GBX 624.46. The stock has a market capitalization of £542.81 million, a P/E ratio of 34.98 and a beta of 1.09. The company has a quick ratio of 0.96, a current ratio of 1.55 and a debt-to-equity ratio of 77.88.

Insiders Place Their Bets

In other news, insider Bruce Thompson bought 12,000 shares of the stock in a transaction on Tuesday, March 11th. The shares were purchased at an average price of GBX 544 ($7.20) per share, for a total transaction of £65,280 ($86,394.92). Also, insider Clive Watson purchased 175 shares of discoverIE Group stock in a transaction dated Wednesday, February 12th. The shares were purchased at an average price of GBX 608 ($8.05) per share, with a total value of £1,064 ($1,408.15). In the last ninety days, insiders acquired 17,175 shares of company stock worth $9,349,400. 4.50% of the stock is currently owned by company insiders.

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 and industrial & connectivity.

The Group employs c.4,500 people across 20 countries.