Focusrite (LON:TUNE) Stock Keeps Buy Rating at Berenberg Bank

Focusrite (LON:TUNE)‘s stock had its “buy” rating reaffirmed by Berenberg Bank in a research report issued on Thursday, September 17th, Digital Look reports. They currently have a GBX 355 price objective on the stock. Berenberg Bank’s price objective indicates a potential upside of 47.95% from the company’s previous close.

Focusrite Trading Down 3.1%

Focusrite stock traded down GBX 7.56 during mid-day trading on Thursday, hitting GBX 239.94. The company’s stock had a trading volume of 115,574 shares, compared to its average volume of 173,509. The business has a 50 day moving average price of GBX 257.43 and a 200-day moving average price of GBX 216.39. The company has a debt-to-equity ratio of 26.31, a current ratio of 3.53 and a quick ratio of 0.77. Focusrite has a 12 month low of GBX 155 and a 12 month high of GBX 283.95. The stock has a market cap of £141.00 million, a price-to-earnings ratio of 26.66, a price-to-earnings-growth ratio of 2.95 and a beta of 1.10.

Focusrite (LON:TUNE) last announced its quarterly earnings data 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%. As a group, analysts forecast that Focusrite will post 17.2473868 EPS for the current year.

Insider Buying and Selling at Focusrite

In related news, insider Ian Barkshire acquired 87,280 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was purchased at an average price 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.