Focusrite (LON:TUNE) Releases Earnings Results

Focusrite (LON:TUNE) issued its earnings results on Monday. The company reported GBX 15.04 earnings per share (EPS) for the quarter, Digital Look Earnings reports. Focusrite had a negative net margin of 2.52% and a negative return on equity of 3.62%.

Focusrite Stock Up 4.8%

LON TUNE traded up GBX 10 during trading on Friday, reaching GBX 220. The company’s stock had a trading volume of 184,308 shares, compared to its average volume of 160,942. The company has a current ratio of 3.53, a quick ratio of 0.77 and a debt-to-equity ratio of 26.31. The stock has a market capitalization of £127.76 million, a PE ratio of 24.44, a PEG ratio of 2.95 and a beta of 1.08. The business has a 50-day moving average price of GBX 194.69 and a 200-day moving average price of GBX 208.91. Focusrite has a 1-year low of GBX 150 and a 1-year high of GBX 255.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Focusrite news, insider Ian Barkshire purchased 87,280 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were bought at an average price of GBX 200 per share, for a total transaction of £174,560. 34.66% of the stock is owned by corporate insiders.

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.