Berenberg Bank Reaffirms “Buy” Rating for discoverIE Group (LON:DSCV)

discoverIE Group (LON:DSCV)‘s stock had its “buy” rating reissued by equities researchers at Berenberg Bank in a research report issued to clients and investors on Monday, MarketBeat.com reports. They currently have a GBX 950 ($12.14) price target on the stock. Berenberg Bank’s target price would indicate a potential upside of 31.22% from the company’s previous close.

Separately, Shore Capital raised shares of discoverIE Group to a “hold” rating in a research note on Wednesday, December 4th.

discoverIE Group Price Performance

discoverIE Group stock opened at GBX 724 ($9.25) on Monday. discoverIE Group has a 1 year low of GBX 561 ($7.17) and a 1 year high of GBX 816 ($10.43). The company has a debt-to-equity ratio of 77.89, a quick ratio of 0.96 and a current ratio of 1.55. The firm has a 50 day moving average price of GBX 655.17 and a 200 day moving average price of GBX 666.11. The company has a market cap of £694.61 million, a price-to-earnings ratio of 4,525.00 and a beta of 1.09.

Insider Buying and Selling

In related news, insider Clive Watson bought 4,126 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was bought at an average price of GBX 585 ($7.47) per share, with a total value of £24,137.10 ($30,838.25). Also, insider Simon Gibbins bought 7,822 shares of the stock in a transaction dated Tuesday, October 15th. The stock was bought at an average price of GBX 634 ($8.10) per share, with a total value of £49,591.48 ($63,359.50). Corporate insiders own 4.50% of the company’s stock.

discoverIE Group Company Profile

discoverIE Group plc designs, manufactures, and supplies components for electronic applications worldwide. It operates in two segments, Magnetics & Controls; and Sensing & Connectivity. The company offers magnetic and power components, embedded computing and interface controls, and sensing and connectivity components for industrial applications.