Focusrite’s (TUNE) Buy Rating Reiterated at Berenberg Bank

Berenberg Bank reaffirmed their buy rating on shares of Focusrite (LON:TUNE) in a research report sent to investors on Thursday morning,Digital Look reports. They currently have a GBX 355 price objective on the stock.

Focusrite Trading Up 3.2%

LON:TUNE opened at GBX 257.89 on Thursday. Focusrite has a 1-year low of GBX 155 and a 1-year high of GBX 283.95. The company has a quick ratio of 0.77, a current ratio of 3.53 and a debt-to-equity ratio of 26.31. The firm has a market capitalization of £151.55 million, a price-to-earnings ratio of 28.65, a price-to-earnings-growth ratio of 2.95 and a beta of 1.10. The stock has a fifty day simple moving average of GBX 256.44 and a 200 day simple moving average of GBX 215.57.

Focusrite (LON:TUNE) last released its earnings results 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%. Sell-side analysts forecast that Focusrite will post 17.2473868 earnings per share for the current year.

Insider Transactions at Focusrite

In related news, insider Ian Barkshire bought 87,280 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were acquired 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.

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.