Luxottica Group SpA (LUX) Shares Gap Up to $47.73
Luxottica Group SpA (NYSE:LUX) gapped up before the market opened on Friday . The stock had previously closed at $47.68, but opened at $47.73. Luxottica Group SpA shares last traded at $48.60, with a volume of 41,286 shares trading hands.
A number of equities research analysts have weighed in on the company. Zacks Investment Research lowered Luxottica Group SpA from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 19th. Credit Suisse Group AG assumed coverage on Luxottica Group SpA in a research note on Wednesday, June 15th. They set an “outperform” rating for the company. Finally, Raymond James Financial Inc. upgraded Luxottica Group SpA from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 4th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold”.
The stock has a market cap of $23.33 billion and a P/E ratio of 27.44. The company has a 50-day moving average price of $49.37 and a 200-day moving average price of $54.49.
A number of hedge funds have recently added to or reduced their stakes in LUX. WBI Investments Inc. purchased a new stake in Luxottica Group SpA during the fourth quarter worth about $1,510,000. Morgan Stanley boosted its stake in shares of 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 in the last quarter. Finally, Comerica Bank boosted its stake in shares of 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 in 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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