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. “
A number of other analysts have also weighed in on LUX. RBC Capital Markets lowered Luxottica Group SpA from an outperform rating to a sector perform rating in a research note on Monday, August 8th. Royal Bank Of Canada lowered Luxottica Group SpA from an outperform rating to a sector perform rating in a research note on Monday, August 8th. Credit Suisse Group AG initiated coverage on Luxottica Group SpA in a research note on Wednesday, June 15th. They issued an outperform rating for the company. Deutsche Bank AG upgraded Luxottica Group SpA from a hold rating to a buy rating in a research report on Tuesday, September 13th. Finally, Bank of America Corp. reiterated a sell rating and issued a $41.00 price objective on shares of Luxottica Group SpA in a research report on Thursday, September 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $48.50.
Shares of Luxottica Group SpA (NYSE:LUX) opened at 45.82 on Tuesday. The stock has a market capitalization of $21.97 billion, a price-to-earnings ratio of 25.37 and a beta of 0.85. The firm’s 50-day moving average is $48.47 and its 200-day moving average is $51.28. Luxottica Group SpA has a 1-year low of $45.70 and a 1-year high of $72.55.
Several hedge funds and other institutional investors have recently bought and sold shares of LUX. Bank of New York Mellon Corp raised its position in Luxottica Group SpA by 0.9% in the second quarter. Bank of New York Mellon Corp now owns 4,369 shares of the company’s stock valued at $213,000 after buying an additional 38 shares during the period. Toronto Dominion Bank raised its position in Luxottica Group SpA by 16.7% in the second quarter. Toronto Dominion Bank now owns 2,800 shares of the company’s stock valued at $138,000 after buying an additional 400 shares during the period. US Bancorp DE raised its position in Luxottica Group SpA by 35.2% in the second quarter. US Bancorp DE now owns 2,144 shares of the company’s stock valued at $105,000 after buying an additional 558 shares during the period. Comerica Bank raised its position in Luxottica Group SpA by 2.8% in the second quarter. Comerica Bank now owns 26,805 shares of the company’s stock valued at $1,297,000 after buying an additional 739 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in Luxottica Group SpA by 4.0% in the first quarter. Envestnet Asset Management Inc. now owns 29,873 shares of the company’s stock valued at $1,643,000 after buying an additional 1,152 shares during the period. 1.19% of the stock is currently owned by hedge funds and other institutional investors.
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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