discoverIE Group (LON:DSCV) Shares Down 1.5% – Should You Sell?

discoverIE Group plc (LON:DSCV)’s share price traded down 1.5% on Friday . The stock traded as low as GBX 591 and last traded at GBX 591. 971,962 shares changed hands during mid-day trading, an increase of 165% from the average session volume of 366,724 shares. The stock had previously closed at GBX 600.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DSCV. Deutsche Bank Aktiengesellschaft upgraded shares of discoverIE Group to a “buy” rating and boosted their price target for the company from GBX 735 to GBX 850 in a report on Monday, December 1st. Shore Capital reissued a “buy” rating and issued a GBX 750 price target on shares of discoverIE Group in a research note on Tuesday, December 2nd. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a GBX 1,000 price objective on shares of discoverIE Group in a research report on Wednesday, December 3rd. Finally, Berenberg Bank reiterated a “buy” rating and issued a GBX 950 target price on shares of discoverIE Group in a research note on Friday, December 5th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of GBX 830.

discoverIE Group Stock Down 1.5%

The firm has a market capitalization of £568.08 million, a price-to-earnings ratio of 22.47 and a beta of 1.09. The company has a debt-to-equity ratio of 77.88, a quick ratio of 0.96 and a current ratio of 1.55. The business’s 50 day moving average is GBX 588.38 and its 200-day moving average is GBX 622.26.

discoverIE Group (LON:DSCV) last released its quarterly earnings results on Tuesday, December 2nd. The company reported GBX 19.50 earnings per share (EPS) for the quarter. discoverIE Group had a net margin of 3.55% and a return on equity of 5.10%. Equities analysts anticipate that discoverIE Group plc will post 37.5 EPS for the current fiscal year.

Insider Transactions at discoverIE Group

In related news, insider Bruce Thompson acquired 15,000 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was acquired at an average price of GBX 605 per share, with a total value of £90,750. 3.73% of the stock is owned by corporate insiders.

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.