Shares of Luxottica Group SpA (NYSE:LUX) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $46.67 and last traded at $47.71, with a volume of 47,684 shares trading hands. The stock had previously closed at $48.10.

Several research firms have recently issued reports on LUX. Zacks Investment Research raised shares of Luxottica Group SpA from a “sell” rating to a “hold” rating in a research report on Wednesday, June 22nd. TheStreet lowered shares of Luxottica Group SpA from a “buy” rating to a “hold” rating in a research report on Tuesday, March 22nd. Credit Suisse Group AG began coverage on shares of Luxottica Group SpA in a research report on Wednesday, June 15th. They issued an “outperform” rating on the stock. Finally, Raymond James Financial Inc. raised shares of Luxottica Group SpA from a “market perform” rating to an “outperform” rating in a research report on Wednesday, May 4th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold”.

The stock has a market capitalization of $22.64 billion and a P/E ratio of 25.36. The company’s 50-day moving average is $52.07 and its 200 day moving average is $56.15.

Several hedge funds recently made changes to their positions in LUX. World Asset Management Inc increased its stake in shares of Luxottica Group SpA by 2.4% in the fourth quarter. World Asset Management Inc now owns 25,600 shares of the company’s stock worth $1,660,000 after buying an additional 590 shares during the last quarter. WBI Investments Inc. bought a new stake in shares of Luxottica Group SpA during the fourth quarter worth about $1,510,000. Wells Fargo & Company MN increased its stake in shares of Luxottica Group SpA by 29.4% in the fourth quarter. Wells Fargo & Company MN now owns 20,133 shares of the company’s stock worth $1,306,000 after buying an additional 4,571 shares during the last quarter. Azimuth Capital Management LLC increased its stake in shares of Luxottica Group SpA by 7.2% in the fourth quarter. Azimuth Capital Management LLC now owns 52,885 shares of the company’s stock worth $3,430,000 after buying an additional 3,530 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its stake in shares of Luxottica Group SpA by 1.1% in the fourth quarter. Neuberger Berman Group LLC now owns 348,942 shares of the company’s stock worth $22,632,000 after buying an additional 3,721 shares during the last quarter.

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. It operates in two industry segments: manufacturing and wholesale distribution, and retail distribution. Through its manufacturing and wholesale distribution operations, the Company is engaged in the 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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