Berenberg Bank Reiterates Buy Rating for Focusrite (LON:TUNE)

Focusrite (LON:TUNE)‘s stock had its “buy” rating restated by investment analysts at Berenberg Bank in a research report issued to clients and investors on Thursday, Digital Look reports. They currently have a GBX 355 price objective on the stock. Berenberg Bank’s price objective indicates a potential upside of 37.66% from the company’s previous close.

Focusrite Stock Performance

Shares of TUNE opened at GBX 257.89 on Thursday. The company has a market capitalization of £151.55 million, a PE ratio of 28.65, a price-to-earnings-growth ratio of 2.95 and a beta of 1.10. Focusrite has a one year low of GBX 155 and a one year high of GBX 283.95. The company has a debt-to-equity ratio of 26.31, a current ratio of 3.53 and a quick ratio of 0.77. The company’s fifty day moving average price is GBX 256.44 and its 200 day moving average price is GBX 215.57.

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

Insider Buying and Selling

In related news, insider Ian Barkshire acquired 87,280 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were bought at an average cost of GBX 200 per share, with a total value of £174,560. 34.45% of the stock is currently owned by corporate insiders.

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.