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

Focusrite (LON:TUNE)‘s stock had its “buy” rating reaffirmed by investment analysts at Berenberg Bank in a research report issued on Thursday,London Stock Exchange reports. They presently have a GBX 355 ($4.62) price target on the stock. Berenberg Bank’s target price suggests a potential upside of 106.45% from the stock’s previous close.

Focusrite Stock Down 0.3 %

Shares of LON TUNE traded down GBX 0.55 ($0.01) during midday trading on Thursday, hitting GBX 171.96 ($2.24). 71,422 shares of the company’s stock were exchanged, compared to its average volume of 204,522. The firm’s fifty day simple moving average is GBX 195.80 and its 200-day simple moving average is GBX 238.61. The company has a debt-to-equity ratio of 36.98, a current ratio of 1.57 and a quick ratio of 0.77. The company has a market cap of £100.42 million, a PE ratio of 8.56, a P/E/G ratio of 2.95 and a beta of 1.04. Focusrite has a twelve month low of GBX 165 ($2.15) and a twelve month high of GBX 397 ($5.16).

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.