Luxottica Group SpA (LUX) Sees Strong Trading Volume
Luxottica Group SpA (NYSE:LUX) saw unusually-high trading volume on Monday . Approximately 88,384 shares were traded during trading, a decline of 8% from the previous session’s volume of 95,861 shares.The stock last traded at $48.46 and had previously closed at $49.03.
LUX has been the subject of several recent research reports. Zacks Investment Research raised Luxottica Group SpA from a “sell” rating to a “hold” rating in a research report on Wednesday, June 22nd. Credit Suisse Group AG initiated coverage on Luxottica Group SpA in a research report on Wednesday, June 15th. They set an “outperform” rating for the company. Finally, Raymond James Financial Inc. raised Luxottica Group SpA from a “market perform” rating to an “outperform” rating in a research report on Wednesday, May 4th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold”.
The company has a market capitalization of $23.03 billion and a PE ratio of 26.06. The stock has a 50-day moving average of $50.11 and a 200-day moving average of $54.78.
Several hedge funds have made changes to their positions in the stock. WBI Investments Inc. acquired a new stake in shares of Luxottica Group SpA during the fourth quarter valued at $1,510,000. Morgan Stanley increased 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 valued at $11,192,000 after buying an additional 6,537 shares in the last quarter. Finally, Comerica Bank increased 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 valued at $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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