Luxottica Group SpA (LUX) Shares Gap Up to $47.97
Luxottica Group SpA (NYSE:LUX) shares 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 traded.
Several research analysts recently commented on LUX shares. Raymond James Financial Inc. upgraded Luxottica Group SpA from a “market perform” rating to an “outperform” rating in a research report on Wednesday, May 4th. Credit Suisse Group AG began coverage on shares of Luxottica Group SpA in a research note on Wednesday, June 15th. They issued an “outperform” rating for the company. Finally, Zacks Investment Research raised shares of Luxottica Group SpA from a “sell” rating to a “hold” rating in a research note on Wednesday, June 22nd. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Luxottica Group SpA presently has a consensus rating of “Hold”.
The company has a 50-day moving average price of $50.29 and a 200 day moving average price of $54.98. The firm has a market capitalization of $23.56 billion and a P/E ratio of 26.43.
Several institutional investors recently bought and sold shares of LUX. Morgan Stanley boosted its position 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. 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 worth $3,430,000 after buying an additional 3,530 shares during the period. 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 worth $1,593,000 after buying an additional 1,231 shares during the period. Finally, WBI Investments Inc. acquired a new stake in Luxottica Group SpA during the fourth quarter worth 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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