Focusrite (LON:TUNE) Sets New 52-Week High – Here’s Why

Focusrite plc (LON:TUNE) reached a new 52-week high on Monday . The stock traded as high as GBX 283.95 and last traded at GBX 278, with a volume of 246865 shares. The stock had previously closed at GBX 272.

Analyst Ratings Changes

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 355 target price on shares of Focusrite in a report on Thursday, July 2nd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of GBX 355.

Focusrite Price Performance

The company has a current ratio of 3.53, a quick ratio of 0.77 and a debt-to-equity ratio of 26.31. The stock has a 50-day simple moving average of GBX 236.58 and a 200 day simple moving average of GBX 211.47. The stock has a market capitalization of £163.89 million, a price-to-earnings ratio of 30.99, a price-to-earnings-growth ratio of 2.95 and a beta of 1.08.

Focusrite (LON:TUNE) last issued its 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%. On average, equities research analysts forecast that Focusrite plc will post 17.2473868 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Ian Barkshire acquired 87,280 shares of the company’s stock in a transaction on Monday, June 29th. The shares were purchased at an average price of GBX 200 per share, for a total transaction of £174,560. Insiders own 34.45% of the company’s stock.

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.