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

Focusrite (LON:TUNE)‘s stock had its “buy” rating restated by equities research analysts at Berenberg Bank in a report issued on Wednesday,Digital Look reports. They presently have a GBX 355 target price on the stock. Berenberg Bank’s price objective would suggest a potential upside of 59.97% from the stock’s previous close.

Focusrite Price Performance

Focusrite stock traded down GBX 13.09 during mid-day trading on Wednesday, reaching GBX 221.91. The company had a trading volume of 134,033 shares, compared to its average volume of 157,221. The stock’s 50-day simple moving average is GBX 197.08 and its 200-day simple moving average is GBX 175.69. The company has a debt-to-equity ratio of 36.98, a current ratio of 1.57 and a quick ratio of 0.77. The company has a market capitalization of £130.09 million, a P/E ratio of 65.27, a P/E/G ratio of 2.95 and a beta of 1.04. Focusrite has a 1 year low of GBX 130 and a 1 year high of GBX 295.

Focusrite (LON:TUNE) last announced its quarterly earnings results on Tuesday, November 4th. The company reported GBX 17 earnings per share (EPS) for the quarter. Focusrite had a net margin of 6.99% and a return on equity of 10.09%. On average, equities analysts predict that Focusrite will post 17.2473868 EPS for the current 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.