discoverIE Group (LON:DSCV) Hits New 52-Week High – Time to Buy?

discoverIE Group plc (LON:DSCV) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 802 and last traded at GBX 798, with a volume of 328487 shares changing hands. The stock had previously closed at GBX 768.19.

Analyst Upgrades and Downgrades

DSCV has been the subject of several recent analyst reports. 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. Shore Capital Group reissued a “buy” rating on shares of discoverIE Group in a research report on Friday, April 17th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 870 price objective on shares of discoverIE Group in a research note on Tuesday, June 23rd. Royal Bank Of Canada lowered discoverIE Group to a “sector perform” rating and set a GBX 800 price objective for the company. in a research report on Friday, June 5th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a GBX 1,000 target price on shares of discoverIE Group in a research note on Friday, April 17th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of GBX 894.38.

discoverIE Group Trading Up 1.6%

The stock has a market cap of £803.62 million, a price-to-earnings ratio of 28.44 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. The business has a 50-day moving average of GBX 712.02 and a 200-day moving average of GBX 655.79.

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