Luxottica Group SpA (NYSE:LUX) gapped up before the market opened on Friday . The stock had previously closed at $47.38, but opened at $47.95. Luxottica Group SpA shares last traded at $48.93, with a volume of 29,281 shares changing hands.

Several equities research analysts have weighed in on the stock. Raymond James Financial Inc. raised shares of Luxottica Group SpA from a “market perform” rating to an “outperform” rating in a research report on Wednesday, May 4th. Zacks Investment Research raised shares of Luxottica Group SpA from a “sell” rating to a “hold” rating in a research report on Wednesday, June 22nd. Finally, Credit Suisse Group AG assumed coverage on shares of Luxottica Group SpA in a research report on Wednesday, June 15th. They set an “outperform” rating for the company. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Luxottica Group SpA presently has an average rating of “Hold”.

The company has a 50 day moving average of $49.03 and a 200-day moving average of $54.02. The company has a market capitalization of $23.36 billion and a PE ratio of 27.29.

Other hedge funds have added to or reduced their stakes in the company. 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. 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 worth $11,192,000 after buying an additional 6,537 shares during the period. Finally, WBI Investments Inc. acquired a new stake in Luxottica Group SpA during the fourth quarter worth $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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