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

Focusrite plc (LON:TUNE) reached a new 52-week high during trading on Monday . The company traded as high as GBX 255 and last traded at GBX 245.25, with a volume of 99684 shares trading hands. The stock had previously closed at GBX 250.

Analyst Ratings Changes

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

Focusrite Price Performance

The business’s 50-day moving average price is GBX 225.77 and its 200 day moving average price is GBX 194.14. The company has a market capitalization of £142.42 million, a P/E ratio of 27.25, a price-to-earnings-growth ratio of 2.95 and a beta of 1.04. The company has a quick ratio of 0.77, a current ratio of 1.57 and a debt-to-equity ratio of 36.98.

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