Focusrite (LON:TUNE) Reaches New 52-Week High – Time to Buy?

Shares of Focusrite plc (LON:TUNE) reached a new 52-week high during trading on Wednesday . The company traded as high as GBX 255 and last traded at GBX 249.63, with a volume of 199531 shares changing hands. The stock had previously closed at GBX 247.50.

Analyst Ratings Changes

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 355 price objective on shares of Focusrite in a research report on Wednesday, November 12th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of GBX 355.

Focusrite Price Performance

The stock has a market capitalization of £144.96 million, a PE ratio of 27.74, a P/E/G ratio of 2.95 and a beta of 1.04. The company has a quick ratio of 0.77, a current ratio of 1.57 and a debt-to-equity ratio of 36.98. The stock’s 50-day moving average is GBX 228.58 and its 200 day moving average is GBX 199.93.

Focusrite (LON:TUNE) last issued 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%. As a group, equities analysts predict that Focusrite plc will post 17.2473868 earnings per share for the current 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.