Luceco (LON:LUCE) Shares Pass Below 50-Day Moving Average – Here’s What Happened

Luceco plc (LON:LUCE) crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of GBX 232.79 and traded as low as GBX 216.42. Luceco shares last traded at GBX 220, with a volume of 120,347 shares trading hands.

Analysts Set New Price Targets

Several research firms have commented on LUCE. Peel Hunt restated a “buy” rating and set a GBX 300 price objective on shares of Luceco in a report on Monday, August 10th. Deutsche Bank Aktiengesellschaft downgraded Luceco to a “hold” rating and set a GBX 260 price target on the stock. in a research report on Wednesday, July 29th. Berenberg Bank upped their price objective on shares of Luceco from GBX 270 to GBX 300 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Finally, Jefferies Financial Group reissued a “buy” rating and set a GBX 320 target price on shares of Luceco in a research report on Monday, August 10th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Luceco has an average rating of “Moderate Buy” and a consensus price target of GBX 295.

Luceco Price Performance

The firm has a 50-day simple moving average of GBX 231.93 and a 200-day simple moving average of GBX 226.74. The firm has a market cap of £329.71 million, a P/E ratio of 16.72, a PEG ratio of 0.62 and a beta of 1.34. The company has a current ratio of 1.90, a quick ratio of 1.51 and a debt-to-equity ratio of 60.83.

Insider Activity

In related news, insider John Hornby sold 505,000 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of GBX 224, for a total transaction of £1,131,200. 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 purchased at an average cost of GBX 270 per share, with a total value of £10,006.20. 23.25% of the stock is 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.