Focusrite (LON:TUNE) Reaches New 52-Week High – What’s Next?

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

Analysts Set New Price Targets

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 355 target price on shares of Focusrite in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of GBX 355.

Focusrite Stock Performance

The stock’s 50 day moving average price is GBX 225.21 and its 200 day moving average price is GBX 210.07. 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 firm has a market cap of £155.72 million, a PE ratio of 29.44, a P/E/G ratio of 2.95 and a beta of 1.08.

Focusrite (LON:TUNE) last announced its quarterly 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%. As a group, equities analysts forecast that Focusrite plc will post 17.2473868 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Ian Barkshire purchased 87,280 shares of Focusrite stock in a transaction that occurred on Monday, June 29th. The shares were purchased at an average cost of GBX 200 per share, with a total value of £174,560. Company 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.