discoverIE Group (LON:DSCV) Sets New 12-Month High – Should You Buy?

discoverIE Group plc (LON:DSCV) reached a new 52-week high during trading on Tuesday. The stock traded as high as GBX 905 and last traded at GBX 879, with a volume of 521,148 shares traded. The stock had previously closed at GBX 895.

Analysts Set New Price Targets

DSCV has been the subject of several recent analyst reports. Peel Hunt restated a “buy” rating and issued a GBX 1,000 target price on shares of discoverIE Group in a research note on Friday, July 24th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 1,050 price target on shares of discoverIE Group in a research report on Monday, July 27th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 870 price target on shares of discoverIE Group in a research report on Tuesday, June 23rd. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, discoverIE Group currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 894.38.

discoverIE Group Stock Down 4.5%

The firm has a market capitalization of £794.40 million, a price-to-earnings ratio of 28.11 and a beta of 1.29. 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 company’s 50 day moving average price is GBX 809.63 and its 200 day moving average price is GBX 724.83.

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.