Focusrite (LON:TUNE) Reaches New 12-Month High – Here’s What Happened

Focusrite plc (LON:TUNE)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as GBX 283.95 and last traded at GBX 278, with a volume of 246865 shares traded. The stock had previously closed at GBX 272.

Analyst Ratings Changes

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 355 target price on shares of Focusrite in a report on Thursday, July 2nd. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of GBX 355.

Focusrite Trading Up 2.2%

The firm has a market capitalization of £163.36 million, a P/E ratio of 30.89, a price-to-earnings-growth ratio of 2.95 and a beta of 1.08. The company has a quick ratio of 0.77, a current ratio of 3.53 and a debt-to-equity ratio of 26.31. The firm’s 50-day simple moving average is GBX 233.38 and its 200-day simple moving average is GBX 210.90.

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

Insider Activity

In other news, insider Ian Barkshire acquired 87,280 shares of the stock in a transaction dated Monday, June 29th. The stock was purchased at an average cost of GBX 200 per share, with a total value of £174,560. Insiders own 34.45% of the company’s stock.

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.