Luceco (LON:LUCE) Shares Down 11.8% – Time to Sell?

Luceco plc (LON:LUCE) shares were down 11.8% on Tuesday . The company traded as low as GBX 218.20 and last traded at GBX 225. 1,395,145 shares changed hands during trading, an increase of 73% from the average session volume of 804,375 shares. The stock had previously closed at GBX 255.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LUCE shares. Berenberg Bank upped their target price on shares of Luceco from GBX 270 to GBX 300 and gave the stock a “buy” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft cut Luceco to a “hold” rating and set a GBX 260 price objective on the stock. in a research report on Wednesday. Finally, Jefferies Financial Group reiterated a “buy” rating and set a GBX 320 target price on shares of Luceco in a research note on Wednesday. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Luceco has a consensus rating of “Moderate Buy” and an average target price of GBX 267.50.

Luceco Price Performance

The firm has a market cap of £316.65 million, a PE ratio of 16.05, a price-to-earnings-growth ratio of 0.62 and a beta of 1.38. The company has a current ratio of 1.90, a quick ratio of 1.51 and a debt-to-equity ratio of 60.83. The stock has a 50 day simple moving average of GBX 264.81 and a 200-day simple moving average of GBX 209.87.

Insider Transactions at Luceco

In other Luceco news, insider Will Hoy acquired 18,820 shares of the stock in a transaction on Thursday, June 18th. The stock was acquired at an average price of GBX 266 per share, for a total transaction of £50,061.20. Also, insider Janet Ryan purchased 3,706 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was acquired at an average cost of GBX 270 per share, with a total value of £10,006.20. Over the last ninety days, insiders bought 24,145 shares of company stock valued at $6,366,158 and sold 3,355,000 shares valued at $903,195,000. 23.59% of the stock is currently owned by insiders.

About Luceco

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.