Focusrite (LON:TUNE) Reaches New 1-Year High – Here’s What Happened

Focusrite plc (LON:TUNE)’s share price reached a new 52-week high during trading on Monday . The company traded as high as GBX 260 and last traded at GBX 250, with a volume of 187021 shares. The stock had previously closed at GBX 242.

Analyst Ratings Changes

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 355 price target on shares of Focusrite in a report on Thursday, July 2nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Focusrite currently has a consensus rating of “Buy” and an average target price of GBX 355.

Focusrite Stock Up 3.3%

The business’s 50-day moving average is GBX 218.30 and its two-hundred day moving average is GBX 209.26. The firm has a market capitalization of £146.91 million, a price-to-earnings ratio of 27.78, a P/E/G ratio of 2.95 and a beta of 1.09. The company has a debt-to-equity ratio of 26.31, a quick ratio of 0.77 and a current ratio of 3.53.

Focusrite (LON:TUNE) last announced its quarterly earnings results on Monday, June 29th. The company reported GBX 15.04 earnings per share (EPS) for the quarter. Focusrite had a negative net margin of 2.52% and a negative return on equity of 3.62%. On average, equities analysts anticipate that Focusrite plc will post 17.2473868 earnings per share for the current year.

Insider Activity at Focusrite

In other Focusrite news, insider Ian Barkshire bought 87,280 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was acquired at an average price of GBX 200 per share, with a total value of £174,560. 34.45% of the stock is currently owned by insiders.

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.