Luceco (LON:LUCE) Shares Down 1.2% – Here’s What Happened

Luceco plc (LON:LUCE)’s share price fell 1.2% on Wednesday . The company traded as low as GBX 251 and last traded at GBX 257.85. Approximately 286,542 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 808,132 shares. The stock had previously closed at GBX 261.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Luceco from GBX 225 to GBX 260 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Berenberg Bank raised their price objective on Luceco from GBX 200 to GBX 270 and gave the company a “buy” rating in a report on Tuesday, May 19th. Finally, Jefferies Financial Group restated a “buy” rating and set a GBX 320 price objective on shares of Luceco in a research report on Tuesday, June 16th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Luceco has an average rating of “Buy” and an average price target of GBX 260.

Luceco Stock Performance

The company has a debt-to-equity ratio of 60.83, a quick ratio of 1.51 and a current ratio of 1.90. The stock has a fifty day simple moving average of GBX 265.10 and a two-hundred day simple moving average of GBX 206.03. The stock has a market capitalization of £379.52 million, a price-to-earnings ratio of 19.24, a P/E/G ratio of 0.62 and a beta of 1.38.

Insiders Place Their Bets

In related news, insider Giles Brand sold 475,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of GBX 269, for a total transaction of £1,277,750. Also, insider Janet Ryan bought 3,706 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were acquired at an average cost of GBX 270 per share, with a total value of £10,006.20. In the last quarter, insiders have purchased 24,145 shares of company stock worth $6,366,158 and have sold 3,355,000 shares worth $903,195,000. Corporate insiders own 23.59% of the company’s stock.

Luceco Company Profile

Luceco plc manufactures and distributes wiring accessories and LED lighting and portable power products in the United Kingdom, Europe, the Middle East, the Americas, the Asia Pacific, and Africa. It offers wiring accessories, including switches and sockets, circuit protection products, outdoor wiring devices, junction boxes, cable management products, and commercial power and accessories under the British General and Nexus brands. The company also provides LED lighting products, such as residential and commercial, interior and exterior, mains and solar, and work and site lighting products under the Luceco, Kingfisher Lighting, and DW Windsor brand names; and portable power products comprising electric vehicle chargers, extension leads, cable reels, and adapters and accessories under the Masterplug, Ross, and Sync EV brands.