Focusrite (LON:TUNE) Hits New 12-Month High – What’s Next?

Focusrite plc (LON:TUNE) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 255 and last traded at GBX 249.63, with a volume of 199531 shares. The stock had previously closed at GBX 247.50.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 355 price target on shares of Focusrite in a research report on Wednesday, November 12th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of GBX 355.

Focusrite Stock Up 0.9%

The company has a debt-to-equity ratio of 36.98, a quick ratio of 0.77 and a current ratio of 1.57. The company has a market cap of £144.96 million, a P/E ratio of 27.74, a P/E/G ratio of 2.95 and a beta of 1.04. The stock has a 50 day moving average price of GBX 228.58 and a 200 day moving average price of GBX 199.93.

Focusrite (LON:TUNE) last issued its quarterly earnings results on Tuesday, November 4th. The company reported GBX 17 EPS for the quarter. Focusrite had a net margin of 6.99% and a return on equity of 10.09%. Research analysts expect that Focusrite plc will post 17.2473868 earnings per share for the current fiscal year.

About Focusrite

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.