Luxottica Group SpA (NYSE:LUX) shares fell 1.7% on Monday . The company traded as low as $48.71 and last traded at $48.72, with a volume of 67,724 shares. The stock had previously closed at $49.54.

Several brokerages have recently commented on LUX. Raymond James Financial Inc. raised Luxottica Group SpA from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 4th. TheStreet downgraded Luxottica Group SpA from a “buy” rating to a “hold” rating in a research note on Tuesday, March 22nd. Zacks Investment Research raised Luxottica Group SpA from a “sell” rating to a “hold” rating in a research note on Wednesday, June 22nd. Finally, Credit Suisse Group AG began coverage on Luxottica Group SpA in a research note on Wednesday, June 15th. They issued an “outperform” rating for the company. Two 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’s stock. The stock has a consensus rating of “Hold”.

The company’s 50 day moving average price is $50.80 and its 200 day moving average price is $55.23. The firm has a market capitalization of $23.42 billion and a P/E ratio of 26.31.

Several hedge funds have bought and sold shares of the company. Morgan Stanley boosted 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 valued at $11,192,000 after buying an additional 6,537 shares during the last quarter. Azimuth Capital Management LLC boosted 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 valued at $3,430,000 after buying an additional 3,530 shares during the last quarter. Comerica Bank boosted 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 valued at $1,593,000 after buying an additional 1,231 shares during the last quarter. Finally, WBI Investments Inc. acquired a new stake in Luxottica Group SpA during the fourth quarter valued at about $1,510,000.

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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