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

Berenberg Bank reissued their buy rating on shares of Focusrite (LON:TUNE) in a research note issued to investors on Wednesday, Digital Look reports. The firm currently has a GBX 410 ($5.15) target price on the stock.

Focusrite Stock Performance

Shares of LON:TUNE traded up GBX 10 ($0.13) during midday trading on Wednesday, reaching GBX 370 ($4.65). The company’s stock had a trading volume of 46,624 shares, compared to its average volume of 98,474. The firm has a market capitalization of £216.78 million, a PE ratio of 1,887.50, a P/E/G ratio of 2.95 and a beta of 1.07. The stock has a fifty day moving average of GBX 358.76 and a 200 day moving average of GBX 449.93. Focusrite has a twelve month low of GBX 245 ($3.08) and a twelve month high of GBX 610 ($7.66). The company has a quick ratio of 0.77, a current ratio of 1.53 and a debt-to-equity ratio of 30.62.

Focusrite Cuts Dividend

The company also recently declared a dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 9th will be given a dividend of GBX 2.10 ($0.03) per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a yield of 0.57%. Focusrite’s dividend payout ratio is presently 3,500.00%.

Insider Transactions at Focusrite

In other Focusrite news, insider Timothy Paul Carrol acquired 3,386 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were bought at an average cost of GBX 295 ($3.71) per share, with a total value of £9,988.70 ($12,547.04). In other Focusrite news, insider Timothy Paul Carrol bought 3,386 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were acquired at an average cost of GBX 295 ($3.71) per share, with a total value of £9,988.70 ($12,547.04). Also, insider Sally McKone purchased 6,900 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was bought at an average price of GBX 292 ($3.67) per share, with a total value of £20,148 ($25,308.38). Corporate insiders own 37.01% of the company’s stock.

About Focusrite

Focusrite plc develops and markets hardware and software products primarily for audio professionals and amateur musicians in North America, Europe, the Middle East, Africa, and internationally. It operates through Focusrite, Novation, ADAM Audio, Martin Audio, Sonnox, and Sequential segments. The company provides audio interface and other products for musicians under the Focusrite and Focusrite Pro brands; and products that are used in the creation of electronic music using synthesizers, grooveboxes, keyboard and pad controllers, MIDI controllers, and software and apps under the Novation and Ampify brands.