Luxottica Group SpA (NYSE:LUX)’s share price 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.

LUX has been the subject of several recent analyst reports. Raymond James Financial Inc. upgraded shares of Luxottica Group SpA from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 4th. Zacks Investment Research upgraded shares of Luxottica Group SpA from a “sell” rating to a “hold” rating in a research note on Wednesday, June 22nd. Finally, Credit Suisse Group AG initiated coverage on shares of Luxottica Group SpA in a research note on Wednesday, June 15th. They issued an “outperform” rating for the company. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold”.

The firm has a market capitalization of $23.29 billion and a PE ratio of 27.44. The stock has a 50-day moving average of $49.37 and a 200 day moving average of $54.49.

A number of large investors have made changes to their positions in the company. WBI Investments Inc. purchased a new position in Luxottica Group SpA during the fourth quarter valued at approximately $1,510,000. Comerica Bank boosted its position 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 period. Finally, 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 valued at $11,192,000 after buying an additional 6,537 shares during the period.

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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