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

Focusrite (LON:TUNE)‘s stock had its “buy” rating reiterated by equities researchers at Berenberg Bank in a report released on Wednesday, Marketbeat.com reports. They presently have a GBX 355 price objective on the stock. Berenberg Bank’s price target points to a potential upside of 59.84% from the company’s previous close.

Focusrite Stock Performance

TUNE opened at GBX 222.10 on Wednesday. Focusrite has a twelve month low of GBX 130 and a twelve month high of GBX 295. The stock has a market cap of £130.20 million, a PE ratio of 65.32, a price-to-earnings-growth ratio of 2.95 and a beta of 1.04. The business’s 50 day moving average is GBX 199.66 and its 200-day moving average is GBX 176.33. The company has a current ratio of 1.57, a quick ratio of 0.77 and a debt-to-equity ratio of 36.98.

Focusrite (LON:TUNE) last announced its earnings results on Tuesday, November 4th. The company reported GBX 17 earnings per share for the quarter. Focusrite had a return on equity of 10.09% and a net margin of 6.99%. On average, analysts predict that Focusrite will post 17.2473868 earnings per share for the current year.

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.