Luxottica Group SpA (NASDAQ:LUXTY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm currently has a $64.00 target price 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. “

Shares of Luxottica Group SpA (LUXTY) traded up 1.08% during midday trading on Thursday, reaching $59.20. The company’s stock had a trading volume of 35,866 shares. The stock’s 50 day moving average price is $60.13 and its 200 day moving average price is $55.68. The firm has a market cap of $28.71 billion and a price-to-earnings ratio of 33.45. Luxottica Group SpA has a one year low of $44.85 and a one year high of $62.57.

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Luxottica Group SpA Company Profile

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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