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

Focusrite (LON:TUNE)‘s stock had its “buy” rating restated by Berenberg Bank in a report released on Wednesday, Digital Look reports. They currently have a GBX 410 ($5.15) price target on the stock. Berenberg Bank’s target price would suggest a potential upside of 8.61% from the company’s previous close.

Focusrite Trading Up 4.9 %

LON TUNE traded up GBX 17.50 ($0.22) during trading hours on Wednesday, reaching GBX 377.50 ($4.74). The company’s stock had a trading volume of 45,665 shares, compared to its average volume of 98,482. Focusrite has a 52 week low of GBX 245 ($3.08) and a 52 week high of GBX 610 ($7.66). The company has a debt-to-equity ratio of 30.62, a current ratio of 1.53 and a quick ratio of 0.77. The stock has a market cap of £221.18 million, a P/E ratio of 1,887.50, a P/E/G ratio of 2.95 and a beta of 1.07. The firm has a fifty day simple moving average of GBX 358.76 and a 200-day simple moving average of GBX 449.93.

Insiders Place Their Bets

In related news, insider Sally McKone acquired 6,900 shares of the stock in a transaction dated Tuesday, March 19th. The stock was bought at an average price of GBX 292 ($3.67) per share, for a total transaction of £20,148 ($25,308.38). In other news, insider Timothy Paul Carrol purchased 3,386 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were bought at an average cost of GBX 295 ($3.71) per share, with a total value of £9,988.70 ($12,547.04). Also, insider Sally McKone bought 6,900 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were purchased at an average cost of GBX 292 ($3.67) per share, for a total transaction of £20,148 ($25,308.38). Company insiders own 37.01% of the company’s stock.

About Focusrite

Focusrite plc develops and markets hardware and software products primarily for audio professionals and amateur musicians in North America, Europe, the Middle East, Africa, and internationally. It operates through Focusrite, Novation, ADAM Audio, Martin Audio, Sonnox, and Sequential segments. The company provides audio interface and other products for musicians under the Focusrite and Focusrite Pro brands; and products that are used in the creation of electronic music using synthesizers, grooveboxes, keyboard and pad controllers, MIDI controllers, and software and apps under the Novation and Ampify brands.