Focusrite (LON:TUNE) Stock Rating Reaffirmed as “Buy” by Berenberg Bank

Focusrite (LON:TUNE)‘s stock had its “buy” rating restated by investment analysts at Berenberg Bank in a report released on Tuesday, Digital Look reports. They presently have a GBX 355 target price on the stock. Berenberg Bank‘s price objective suggests a potential upside of 51.87% from the company’s previous close.

Focusrite Stock Performance

Shares of TUNE stock opened at GBX 233.75 on Tuesday. Focusrite has a 12 month low of GBX 155 and a 12 month high of GBX 283.95. The company has a current ratio of 3.53, a quick ratio of 0.77 and a debt-to-equity ratio of 26.31. The company has a market cap of £137.36 million, a P/E ratio of 25.97, a PEG ratio of 2.95 and a beta of 1.12. The firm has a fifty day moving average price of GBX 244.68 and a 200 day moving average price of GBX 221.70.

Focusrite (LON:TUNE) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported GBX 13.20 earnings per share for the quarter. Focusrite had a negative net margin of 2.52% and a negative return on equity of 3.62%. The business had revenue of GBX 9,034 million during the quarter. Sell-side analysts predict that Focusrite will post 17.25 earnings per share for the current fiscal year.

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.