Focusrite (LON:TUNE) Reaches New 1-Year High – Should You Buy?

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

Wall Street Analysts Forecast Growth

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

Focusrite Trading Up 2.2%

The stock has a fifty day simple moving average of GBX 233.38 and a 200 day simple moving average of GBX 210.90. 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 has a market capitalization of £163.36 million, a P/E ratio of 30.89, a PEG ratio of 2.95 and a beta of 1.08.

Focusrite (LON:TUNE) last issued its earnings results on Monday, June 29th. The company reported GBX 15.04 earnings per share (EPS) for the quarter. Focusrite had a negative return on equity of 3.62% and a negative net margin of 2.52%. As a group, research analysts forecast that Focusrite plc will post 17.2473868 EPS for the current year.

Insider Activity at Focusrite

In related news, insider Ian Barkshire acquired 87,280 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was purchased at an average cost of GBX 200 per share, for a total transaction of £174,560. Corporate insiders own 34.45% of the company’s stock.

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.