Luxottica Group SpA (NYSE:LUX)’s share price gapped up prior to trading 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 traded.

A number of brokerages recently commented on LUX. 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. Credit Suisse Group AG began coverage on shares of Luxottica Group SpA in a research note on Wednesday, June 15th. They set an “outperform” rating for the company. Finally, 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. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Luxottica Group SpA currently has a consensus rating of “Hold”.

The stock’s 50-day moving average is $49.03 and its 200-day moving average is $54.02. The company has a market capitalization of $23.36 billion and a P/E ratio of 27.10.

A number of institutional investors recently bought and sold shares of the company. WBI Investments Inc. bought a new position in Luxottica Group SpA during the fourth quarter worth $1,510,000. Comerica Bank increased 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 worth $1,593,000 after buying an additional 1,231 shares in the last quarter. Finally, Morgan Stanley increased 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 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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