Luxottica Group SpA (LUX) Rating Increased to Overweight at Morgan Stanley
Luxottica Group SpA (NYSE:LUX) was upgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Tuesday, MarketBeat.com reports.
Separately, Zacks Investment Research upgraded shares of Luxottica Group SpA from a “sell” rating to a “hold” rating in a research note on Saturday, May 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Luxottica Group SpA has an average rating of “Hold” and a consensus target price of $49.00.
Luxottica Group SpA (NYSE:LUX) traded up 2.7198% on Tuesday, reaching $60.8101. 34,289 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $59.44 and its 200-day moving average is $55.01. Luxottica Group SpA has a 12 month low of $44.85 and a 12 month high of $61.22. The firm has a market cap of $29.01 billion, a PE ratio of 30.8681 and a beta of 0.44.
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Several hedge funds have recently bought and sold shares of the company. Baird Financial Group Inc. boosted its stake in Luxottica Group SpA by 3.3% in the fourth quarter. Baird Financial Group Inc. now owns 43,285 shares of the company’s stock worth $2,324,000 after buying an additional 1,400 shares in the last quarter. Comerica Bank boosted its stake in Luxottica Group SpA by 18.1% in the fourth quarter. Comerica Bank now owns 30,685 shares of the company’s stock worth $1,609,000 after buying an additional 4,711 shares in the last quarter. William Blair Investment Management LLC bought a new stake in Luxottica Group SpA during the fourth quarter worth about $3,808,000. Eqis Capital Management Inc. boosted its stake in Luxottica Group SpA by 58.5% in the first quarter. Eqis Capital Management Inc. now owns 7,518 shares of the company’s stock worth $414,000 after buying an additional 2,776 shares in the last quarter. Finally, Greenleaf Trust bought a new stake in Luxottica Group SpA during the first quarter worth about $280,000. Institutional investors own 1.69% 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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