Luxottica Group SpA (LUXTY) Lifted to “Buy” at Zacks Investment Research
Luxottica Group SpA (NASDAQ:LUXTY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The brokerage currently has a $65.00 price objective 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. “
Luxottica Group SpA (NASDAQ:LUXTY) traded down 0.014% during midday trading on Friday, reaching $57.562. 94,886 shares of the company’s stock were exchanged. The company has a market cap of $27.92 billion and a price-to-earnings ratio of 32.521. The firm has a 50-day moving average price of $60.13 and a 200 day moving average price of $55.68. Luxottica Group SpA has a 52 week low of $44.85 and a 52 week high of $62.57.
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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