Luxottica Group SpA (NASDAQ:LUXTY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

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 (LUXTY) traded down 0.014% during midday trading on Thursday, hitting $57.562. The stock had a trading volume of 94,886 shares. The company has a market cap of $27.92 billion and a P/E ratio of 32.521. Luxottica Group SpA has a 12 month low of $44.85 and a 12 month high of $62.57. The firm’s 50-day moving average price is $60.13 and its 200 day moving average price is $55.68.

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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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