Focusrite (LON:TUNE) Given Buy Rating at Berenberg Bank

Focusrite (LON:TUNE)‘s stock had its “buy” rating reiterated by analysts at Berenberg Bank in a report released on Thursday,Digital Look reports. They currently have a GBX 355 price objective on the stock. Berenberg Bank’s target price would suggest a potential upside of 60.63% from the stock’s current price.

Focusrite Stock Down 3.9%

Shares of LON TUNE opened at GBX 221 on Thursday. The stock has a 50-day moving average price of GBX 193.76 and a two-hundred day moving average price of GBX 208.90. The company has a market cap of £128.34 million, a price-to-earnings ratio of 24.56, a PEG ratio of 2.95 and a beta of 1.08. Focusrite has a 12 month low of GBX 150 and a 12 month high of GBX 255. The company has a current ratio of 3.53, a quick ratio of 0.77 and a debt-to-equity ratio of 26.31.

Focusrite (LON:TUNE) last issued its quarterly earnings data on Monday, June 29th. The company reported GBX 15.04 EPS for the quarter. Focusrite had a negative net margin of 2.52% and a negative return on equity of 3.62%. As a group, analysts forecast that Focusrite will post 17.2473868 earnings per share for the current fiscal year.

Insider Activity

In other Focusrite news, insider Ian Barkshire purchased 87,280 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were bought at an average price of GBX 200 per share, for a total transaction of £174,560. Insiders own 34.66% of the company’s stock.

Focusrite Company Profile

Focusrite plc is a global music and audio products group that develops and markets proprietary hardware and software products. Used by audio professionals and amateur musicians alike, our solutions facilitate the high-quality production of recorded and live sound.

We are a rapidly growing group of innovative, market-leading brands, operating across two divisions.

Our Content Creation division is focussed on supporting our customers throughout their music-making journey, by removing barriers to creativity and delivering everything they need to make music.