Luxottica Group (LUXTY) Stock Rating Lowered by Zacks Investment Research
Luxottica Group (OTCMKTS:LUXTY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued 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. “
Several other research firms have also recently weighed in on LUXTY. Societe Generale cut shares of Luxottica Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Royal Bank of Canada cut shares of Luxottica Group from a “sector perform” rating to an “underperform” rating in a report on Thursday, September 21st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $67.00.
Luxottica Group (OTCMKTS:LUXTY) opened at $61.69 on Wednesday. The company has a current ratio of 1.53, a quick ratio of 1.10 and a debt-to-equity ratio of 0.32. Luxottica Group has a twelve month low of $49.74 and a twelve month high of $62.57.
Several hedge funds and other institutional investors have recently made changes to their positions in LUXTY. Sei Investments Co. boosted its position in shares of Luxottica Group by 66.8% during the second 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. Parallel Advisors LLC boosted its position in shares of Luxottica Group by 12.6% during the second quarter. Parallel Advisors LLC now owns 2,230 shares of the company’s stock worth $128,000 after acquiring an additional 249 shares during the last quarter. Sawtooth Solutions LLC boosted its position in shares of Luxottica Group by 4.1% during the second quarter. Sawtooth Solutions LLC now owns 12,424 shares of the company’s stock worth $724,000 after acquiring an additional 487 shares during the last quarter. Summit Global Investments bought a new position in shares of Luxottica Group during the second quarter worth $614,000. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Luxottica Group by 3.2% during the second quarter. Parametric Portfolio Associates LLC now owns 249,026 shares of the company’s stock worth $14,513,000 after acquiring an additional 7,613 shares during the last quarter. 0.44% of the stock is owned by hedge funds and other institutional investors.
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.
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