Focusrite (LON:TUNE) Earns “Buy” Rating from Berenberg Bank

Berenberg Bank reaffirmed their buy rating on shares of Focusrite (LON:TUNE) in a research note released on Wednesday, MarketBeat reports. The brokerage currently has a GBX 410 ($5.15) price objective on the stock.

Focusrite Stock Performance

Shares of LON TUNE opened at GBX 365 ($4.58) on Wednesday. The company has a market capitalization of £213.85 million, a P/E ratio of 1,825.00, a price-to-earnings-growth ratio of 2.95 and a beta of 1.07. The company has a debt-to-equity ratio of 30.62, a current ratio of 1.53 and a quick ratio of 0.77. Focusrite has a one year low of GBX 245 ($3.08) and a one year high of GBX 610 ($7.66). The business’s 50-day moving average price is GBX 357.16 and its two-hundred day moving average price is GBX 449.37.

Focusrite Cuts Dividend

The firm also recently announced a dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 9th will be paid a GBX 2.10 ($0.03) dividend. This represents a yield of 0.57%. The ex-dividend date is Thursday, May 9th. Focusrite’s dividend payout ratio (DPR) is presently 3,500.00%.

Insider Transactions at Focusrite

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

Focusrite Company Profile

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.