Luceco (LON:LUCE) Given New GBX 300 Price Target at Berenberg Bank

Luceco (LON:LUCE) had its price target raised by equities researchers at Berenberg Bank from GBX 270 to GBX 300 in a research report issued to clients and investors on Tuesday,Digital Look reports. The brokerage presently has a “buy” rating on the stock. Berenberg Bank’s target price would indicate a potential upside of 27.66% from the stock’s current price.

Several other analysts have also recently weighed in on LUCE. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 320 price objective on shares of Luceco in a research note on Tuesday, June 16th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Luceco from GBX 225 to GBX 260 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of GBX 267.50.

Luceco Trading Down 7.8%

LUCE stock opened at GBX 235 on Tuesday. 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 company’s 50-day simple moving average is GBX 266.16 and its 200 day simple moving average is GBX 208.59. Luceco has a 52 week low of GBX 111.60 and a 52 week high of GBX 291. The company has a market capitalization of £345.90 million, a PE ratio of 17.54, a price-to-earnings-growth ratio of 0.62 and a beta of 1.38.

Insider Activity

In other Luceco news, insider Janet Ryan bought 3,706 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was purchased at an average cost of GBX 270 per share, for a total transaction of £10,006.20. Also, insider Giles Brand sold 1,780,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of GBX 269, for a total value of £4,788,200. In the last three months, insiders have acquired 24,145 shares of company stock valued at $6,366,158 and have sold 3,355,000 shares valued at $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.