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

Focusrite (LON:TUNE)‘s stock had its “buy” rating restated by investment analysts at Berenberg Bank in a report released on Thursday, MarketBeat reports. They currently have a GBX 355 ($4.58) target price on the stock. Berenberg Bank’s target price suggests a potential upside of 120.96% from the stock’s previous close.

Focusrite Trading Down 5.5 %

LON TUNE opened at GBX 160.66 ($2.07) on Thursday. Focusrite has a one year low of GBX 160 ($2.07) and a one year high of GBX 397 ($5.13). The company’s 50 day moving average price is GBX 193.25 and its 200 day moving average price is GBX 237.17. The company has a debt-to-equity ratio of 36.98, a quick ratio of 0.77 and a current ratio of 1.57. The firm has a market capitalization of £93.82 million, a price-to-earnings ratio of 8.00, a PEG ratio of 2.95 and a beta of 1.04.

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.