Shares of Luxottica Group SpA (NYSE:LUX) gapped up prior to trading on Wednesday . The stock had previously closed at $47.51, but opened at $47.97. Luxottica Group SpA shares last traded at $48.91, with a volume of 29,131 shares trading hands.

Several analysts have 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. TheStreet cut Luxottica Group SpA from a “buy” rating to a “hold” rating in a report on Tuesday, March 22nd. Zacks Investment Research upgraded Luxottica Group SpA from a “sell” rating to a “hold” rating in a report on Wednesday, June 22nd. Finally, Credit Suisse Group AG initiated coverage on Luxottica Group SpA in a report on Wednesday, June 15th. They issued an “outperform” rating for the company. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold”.

The stock has a 50 day moving average price of $50.56 and a 200 day moving average price of $55.13. The stock has a market capitalization of $23.53 billion and a price-to-earnings ratio of 26.43.

Several hedge funds have recently modified their holdings of the stock. WBI Investments Inc. purchased a new stake in shares of Luxottica Group SpA during the fourth quarter worth approximately $1,510,000. Comerica Bank raised 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. Azimuth Capital Management LLC raised 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. Finally, Morgan Stanley raised 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.

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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