Luxottica Group SpA (NYSE:LUX) shares traded up 3.4% on Wednesday . The stock traded as high as $49.81 and last traded at $49.47, with a volume of 137,781 shares. The stock had previously closed at $47.83.

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

The company has a market cap of $24.11 billion and a price-to-earnings ratio of 27.15. The stock’s 50 day moving average price is $51.14 and its 200-day moving average price is $55.62.

A number of hedge funds recently bought and sold shares of LUX. Wells Fargo & Company MN increased its stake in 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. WBI Investments Inc. bought a new stake in Luxottica Group SpA during the fourth quarter worth $1,510,000. Comerica Bank increased its stake in Luxottica Group SpA by 5.0% in the fourth quarter. Comerica Bank now owns 25,974 shares of the company’s stock worth $1,593,000 after buying an additional 1,231 shares during the last quarter. Azimuth Capital Management LLC increased its stake in 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, Morgan Stanley increased its stake in Luxottica Group SpA by 3.9% in the fourth quarter. Morgan Stanley now owns 172,562 shares of the company’s stock worth $11,192,000 after buying an additional 6,537 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. The Company operates through two segments: manufacturing and wholesale distribution, and retail distribution. Through its manufacturing and wholesale distribution operations, the Company is engaged in 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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