Focusrite (LON:TUNE) Receives “Buy” Rating from Berenberg Bank

Focusrite (LON:TUNE)‘s stock had its “buy” rating reiterated by investment analysts at Berenberg Bank in a research report issued on Thursday, Digital Look reports. They currently have a GBX 355 price target on the stock. Berenberg Bank’s target price would indicate a potential upside of 43.20% from the stock’s previous close.

Focusrite Trading Up 0.2%

Shares of TUNE stock opened at GBX 247.90 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 stock has a market capitalization of £145.68 million, a P/E ratio of 27.54, a price-to-earnings-growth ratio of 2.95 and a beta of 1.10. The company has a 50 day moving average price of GBX 255.48 and a 200 day moving average price of GBX 215.11. Focusrite has a fifty-two week low of GBX 155 and a fifty-two week high of GBX 283.95.

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

Insider Buying and Selling at Focusrite

In related news, insider Ian Barkshire acquired 87,280 shares of Focusrite stock in a transaction dated Monday, June 29th. The shares were acquired at an average cost of GBX 200 per share, for a total transaction of £174,560. Corporate insiders own 34.45% 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.