Focusrite’s (TUNE) Buy Rating Reaffirmed at Berenberg Bank

Berenberg Bank reaffirmed their buy rating on shares of Focusrite (LON:TUNE) in a research report report published on Wednesday morning, Marketbeat reports. Berenberg Bank currently has a GBX 410 ($5.15) price target on the stock.

Focusrite Stock Performance

LON TUNE opened at GBX 365 ($4.58) on Wednesday. The firm has a 50-day moving average price of GBX 357.16 and a two-hundred day moving average price of GBX 449.37. Focusrite has a 12-month low of GBX 245 ($3.08) and a 12-month high of GBX 610 ($7.66). The company has a market capitalization of £213.85 million, a P/E ratio of 1,825.00, a P/E/G ratio of 2.95 and a beta of 1.07. The company has a quick ratio of 0.77, a current ratio of 1.53 and a debt-to-equity ratio of 30.62.

Focusrite Cuts Dividend

The business also recently declared a dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 9th will be given a GBX 2.10 ($0.03) dividend. This represents a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, May 9th. Focusrite’s payout ratio is currently 3,500.00%.

Insider Buying and Selling

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

About Focusrite

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.