Luxottica Group SpA (LUXTY) Lowered to “Hold” at Zacks Investment Research
Luxottica Group SpA (OTCMKTS:LUXTY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Luxottica Group is the world leader in the design, manufacture and marketing of high quality eyeglass frames and sunglasses in the mid and premium priced market segments. The Company’s products, which are designed and produced in four facilities based in Northern Italy, include over 1,700 styles available in a wide array of colors and sizes. The eyeglass and sunglass frames manufactured by Luxottica are sold through twelve wholly-owned distributors in the United States, Canada, Italy, France, Spain, Portugal, Sweden, Germany, the United Kingdom, Brazil, Switzerland and Mexico. “
Other equities analysts have also recently issued reports about the company. Societe Generale cut Luxottica Group SpA from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Royal Bank Of Canada cut Luxottica Group SpA from a “sector perform” rating to an “underperform” rating in a report on Wednesday, September 20th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $57.50.
Shares of Luxottica Group SpA (LUXTY) opened at $56.85 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.53 and a quick ratio of 1.10. Luxottica Group SpA has a twelve month low of $49.74 and a twelve month high of $62.57.
A number of institutional investors have recently made changes to their positions in LUXTY. Bank of New York Mellon Corp boosted its holdings in Luxottica Group SpA by 51.8% during the 1st quarter. Bank of New York Mellon Corp now owns 11,205 shares of the company’s stock valued at $618,000 after acquiring an additional 3,826 shares during the period. UBS Group AG raised its position in Luxottica Group SpA by 9.0% in the 1st quarter. UBS Group AG now owns 15,180 shares of the company’s stock valued at $836,000 after purchasing an additional 1,250 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Luxottica Group SpA in the 1st quarter valued at about $1,233,000. Goldman Sachs Group Inc. raised its position in Luxottica Group SpA by 279.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 67,093 shares of the company’s stock valued at $3,693,000 after purchasing an additional 104,402 shares in the last quarter. Finally, Eqis Capital Management Inc. raised its position in Luxottica Group SpA by 31.2% in the 2nd quarter. Eqis Capital Management Inc. now owns 9,860 shares of the company’s stock valued at $575,000 after purchasing an additional 2,342 shares in the last quarter. Institutional investors own 0.50% of the company’s stock.
About Luxottica Group SpA
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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