Focusrite (LON:TUNE) Sets New 1-Year High – What’s Next?

Focusrite plc (LON:TUNE)’s share price reached a new 52-week high on Monday . The company traded as high as GBX 270 and last traded at GBX 265, with a volume of 77984 shares changing hands. The stock had previously closed at GBX 266.

Analyst Ratings Changes

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 355 price objective on shares of Focusrite in a report on Thursday, July 2nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Focusrite has a consensus rating of “Buy” and a consensus price target of GBX 355.

Focusrite Trading Up 0.8%

The company has a quick ratio of 0.77, a current ratio of 3.53 and a debt-to-equity ratio of 26.31. The firm has a 50 day moving average price of GBX 228.55 and a 200 day moving average price of GBX 210.30. The stock has a market capitalization of £156.90 million, a PE ratio of 29.67, a P/E/G ratio of 2.95 and a beta of 1.08.

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

Insider Activity

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

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.