Luxottica Group SpA (LUX) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Luxottica Group SpA (NYSE:LUX) from a hold rating to a buy rating in a research report released on Wednesday morning. The brokerage currently has $56.00 target price on the stock.
According to Zacks, “Luxottica Group is the world leader in the design, manufacture and marketing of high quality eyeglass frames and sunglasses in the mid and premium priced market segments. The Company’s products, which are designed and produced in four facilities based in Northern Italy, include over 1,700 styles available in a wide array of colors and sizes. The eyeglass and sunglass frames manufactured by Luxottica are sold through twelve wholly-owned distributors in the United States, Canada, Italy, France, Spain, Portugal, Sweden, Germany, the United Kingdom, Brazil, Switzerland and Mexico. “
A number of other research firms have also recently weighed in on LUX. Credit Suisse Group AG assumed coverage on shares of Luxottica Group SpA in a report on Wednesday, June 15th. They issued an outperform rating on the stock. RBC Capital Markets cut shares of Luxottica Group SpA from an outperform rating to a sector perform rating in a research note on Monday, August 8th. Royal Bank Of Canada cut shares of Luxottica Group SpA from an outperform rating to a sector perform rating in a research note on Monday, August 8th. Finally, Deutsche Bank AG upgraded shares of Luxottica Group SpA from a hold rating to a buy rating in a research note on Tuesday, September 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Luxottica Group SpA presently has an average rating of Hold and an average target price of $56.00.
Shares of Luxottica Group SpA (NYSE:LUX) traded down 2.02% during mid-day trading on Wednesday, hitting $48.62. 16,077 shares of the stock were exchanged. The stock’s 50-day moving average price is $48.73 and its 200-day moving average price is $51.54. The company has a market cap of $23.31 billion, a P/E ratio of 27.07 and a beta of 0.97. Luxottica Group SpA has a 52-week low of $46.67 and a 52-week high of $72.55.
Institutional investors have recently bought and sold shares of the stock. US Bancorp DE raised its position in Luxottica Group SpA by 35.2% in the second quarter. US Bancorp DE now owns 2,144 shares of the company’s stock valued at $105,000 after buying an additional 558 shares during the period. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Luxottica Group SpA during the first quarter valued at approximately $110,000. Sei Investments Co. raised its stake in shares of Luxottica Group SpA by 136.1% in the second quarter. Sei Investments Co. now owns 2,309 shares of the company’s stock valued at $113,000 after buying an additional 1,331 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of Luxottica Group SpA by 16.7% in the second quarter. Toronto Dominion Bank now owns 2,800 shares of the company’s stock valued at $138,000 after buying an additional 400 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Luxottica Group SpA by 0.9% in the second quarter. Bank of New York Mellon Corp now owns 4,369 shares of the company’s stock valued at $213,000 after buying an additional 38 shares during the last quarter. 1.19% of the stock is owned by hedge funds and other institutional investors.
Luxottica Group SpA Company Profile
Luxottica Group S.p.A. is a holding company. The Company is engaged in the design, manufacture and distribution of fashion, luxury, sport and performance eyewear. The Company operates through two segments: manufacturing and wholesale distribution, and retail distribution. Through its manufacturing and wholesale distribution operations, the Company is engaged in design, manufacturing, wholesale distribution and marketing of brands and designer lines of prescription frames and sunglasses, as well as of performance optics products.
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