discoverIE Group (LON:DSCV) Upgraded to Buy at Shore Capital

discoverIE Group (LON:DSCV) was upgraded by equities researchers at Shore Capital to a “buy” rating in a report issued on Wednesday, MarketBeat Ratings reports.

Separately, Royal Bank of Canada upgraded discoverIE Group to an “outperform” rating and decreased their target price for the stock from GBX 690 ($9.15) to GBX 600 ($7.96) in a report on Tuesday.

discoverIE Group Price Performance

Shares of discoverIE Group stock opened at GBX 560 ($7.43) on Wednesday. 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 current ratio of 1.55, a quick ratio of 0.96 and a debt-to-equity ratio of 77.88. The business’s fifty day moving average price is GBX 552.46 and its 200 day moving average price is GBX 624.02. discoverIE Group has a twelve month low of GBX 472.50 ($6.27) and a twelve month high of GBX 788 ($10.46).

Insider Activity

In related news, insider Clive Watson bought 5,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price of GBX 543 ($7.20) per share, for a total transaction of £27,150 ($36,022.29). Also, insider Bruce Thompson purchased 12,000 shares of discoverIE Group stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average cost of GBX 544 ($7.22) per share, for a total transaction of £65,280 ($86,612.71). In the last 90 days, insiders have acquired 17,175 shares of company stock valued at $9,349,400. Company insiders own 4.50% of the company’s stock.

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 and industrial & connectivity.

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