Luceco (LON:LUCE) Shares Down 12% – Time to Sell?

Luceco plc (LON:LUCE) fell 12% during trading on Monday . The stock traded as low as GBX 249 and last traded at GBX 253.41. 1,673,827 shares traded hands during mid-day trading, an increase of 104% from the average session volume of 821,728 shares. The stock had previously closed at GBX 288.02.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LUCE. Berenberg Bank raised their price objective on shares of Luceco from GBX 200 to GBX 270 and gave the company a “buy” rating in a research note on Tuesday, May 19th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Luceco from GBX 225 to GBX 260 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of GBX 240.

Luceco Price Performance

The company has a debt-to-equity ratio of 60.83, a current ratio of 1.90 and a quick ratio of 1.51. The stock has a market cap of £373.00 million, a price-to-earnings ratio of 18.91, a PEG ratio of 0.62 and a beta of 1.35. The company’s 50 day moving average is GBX 234.09 and its 200 day moving average is GBX 179.93.

Luceco (LON:LUCE) last announced its earnings results on Wednesday, March 25th. The company reported GBX 15 earnings per share (EPS) for the quarter. Luceco had a net margin of 7.48% and a return on equity of 20.71%. Research analysts forecast that Luceco plc will post 12.5907591 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Luceco news, insider John Hornby sold 1,000,000 shares of Luceco stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of GBX 269, for a total transaction of £2,690,000. Also, insider Will Hoy bought 809 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were acquired at an average price of GBX 222 per share, with a total value of £1,795.98. Over the last quarter, insiders sold 3,355,000 shares of company stock worth $903,195,000. Insiders own 23.57% of the company’s stock.

About Luceco

Luceco plc manufactures and distributes wiring accessories and LED lighting and portable power products in the United Kingdom, Europe, the Middle East, the Americas, the Asia Pacific, and Africa. It offers wiring accessories, including switches and sockets, circuit protection products, outdoor wiring devices, junction boxes, cable management products, and commercial power and accessories under the British General and Nexus brands. The company also provides LED lighting products, such as residential and commercial, interior and exterior, mains and solar, and work and site lighting products under the Luceco, Kingfisher Lighting, and DW Windsor brand names; and portable power products comprising electric vehicle chargers, extension leads, cable reels, and adapters and accessories under the Masterplug, Ross, and Sync EV brands.