Focusrite’s (TUNE) “Buy” Rating Reaffirmed at Berenberg Bank

Focusrite (LON:TUNE)‘s stock had its “buy” rating reissued by Berenberg Bank in a research report issued to clients and investors on Thursday,Digital Look reports. They currently have a GBX 355 price target on the stock. Berenberg Bank’s price target indicates a potential upside of 60.63% from the stock’s current price.

Focusrite Stock Performance

TUNE opened at GBX 221 on Thursday. The company has a debt-to-equity ratio of 26.31, a quick ratio of 0.77 and a current ratio of 3.53. The business’s 50-day simple moving average is GBX 193.76 and its 200 day simple moving average is GBX 208.90. The firm has a market capitalization of £128.34 million, a PE ratio of 24.56, a PEG ratio of 2.95 and a beta of 1.08. Focusrite has a 52-week low of GBX 150 and a 52-week high of GBX 255.

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

Insiders Place Their Bets

In other Focusrite news, insider Ian Barkshire purchased 87,280 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were acquired at an average price of GBX 200 per share, for a total transaction of £174,560. Company 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.