Zacks Investment Research upgraded shares of Luxottica Group (OTCMKTS:LUXTY) from a sell rating to a buy rating in a research report report published on Wednesday morning. Zacks Investment Research currently has $67.00 price target on the stock.

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 research analysts have also issued research reports about the stock. Royal Bank of Canada lowered shares of Luxottica Group from a sector perform rating to an underperform rating in a research note on Thursday, September 21st. Societe Generale lowered shares of Luxottica Group from a hold rating to a sell rating in a research note on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Luxottica Group has an average rating of Hold and an average price target of $67.00.

Shares of Luxottica Group (LUXTY) traded up $0.35 during midday trading on Wednesday, hitting $59.90. 4,115 shares of the stock traded hands, compared to its average volume of 16,557. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.10 and a current ratio of 1.53. Luxottica Group has a one year low of $49.74 and a one year high of $62.57.

Hedge funds and other institutional investors have recently modified their holdings of the company. Parallel Advisors LLC boosted its stake in shares of Luxottica Group by 12.6% in the 2nd quarter. Parallel Advisors LLC now owns 2,230 shares of the company’s stock valued at $128,000 after purchasing an additional 249 shares during the last quarter. US Bancorp DE boosted its stake in Luxottica Group by 26.3% during the 2nd quarter. US Bancorp DE now owns 3,908 shares of the company’s stock worth $228,000 after acquiring an additional 813 shares during the last quarter. Sei Investments Co. boosted its stake in Luxottica Group by 66.8% during the 2nd quarter. Sei Investments Co. now owns 6,324 shares of the company’s stock worth $369,000 after acquiring an additional 2,532 shares during the last quarter. Virtu KCG Holdings LLC boosted its stake in Luxottica Group by 118.0% during the 2nd quarter. Virtu KCG Holdings LLC now owns 8,836 shares of the company’s stock worth $515,000 after acquiring an additional 4,783 shares during the last quarter. Finally, Summit Global Investments bought a new position in Luxottica Group during the 2nd quarter worth approximately $614,000. 0.45% of the stock is currently owned by institutional investors.

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About Luxottica Group

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.

Analyst Recommendations for Luxottica Group (OTCMKTS:LUXTY)

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