Focusrite (LON:TUNE) Hits New 12-Month High – Here’s Why

Shares of Focusrite plc (LON:TUNEGet Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 260 and last traded at GBX 250, with a volume of 187021 shares trading hands. The stock had previously closed at GBX 242.

Wall Street Analyst Weigh In

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

View Our Latest Analysis on Focusrite

Focusrite Stock Performance

The stock has a 50-day moving average of GBX 220.57 and a 200 day moving average of GBX 209.57. The firm has a market capitalization of £153.11 million, a P/E ratio of 28.95, a price-to-earnings-growth ratio of 2.95 and a beta of 1.08. The company has a debt-to-equity ratio of 26.31, a quick ratio of 0.77 and a current ratio of 3.53.

Focusrite (LON:TUNEGet Free Report) last issued 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%. On average, research analysts anticipate that Focusrite plc will post 17.2473868 earnings per share for the current year.

Insider Buying and Selling at Focusrite

In other Focusrite news, insider Ian Barkshire purchased 87,280 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was acquired 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.

Focusrite Company Profile

(Get Free Report)

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.

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