Luceco (LON:LUCE) Earns Buy Rating from Berenberg Bank

Key Points

• Berenberg Bank reaffirmed its “buy” rating on Luceco and set a GBX 300 price target, implying 34.88% potential upside from the stock’s current price.
• Analyst sentiment remains favorable, with three “buy” ratings and one “hold”; Luceco has a consensus rating of “Moderate Buy” and an average price target of GBX 295.
• Luceco shares opened at GBX 222.41 after falling 5.4%. Recent insider activity included a director purchase of 3,706 shares and the sale of 505,000 shares by another insider.

Luceco (LON:LUCE - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Berenberg Bank in a research report issued on Tuesday, Digital Look reports. They currently have a GBX 300 price objective on the stock. Berenberg Bank's price objective would suggest a potential upside of 34.88% from the stock's current price.

LUCE has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft cut Luceco to a "hold" rating and set a GBX 260 price objective on the stock. in a research report on Wednesday, July 29th. Peel Hunt reiterated a "buy" rating and issued a GBX 300 price objective on shares of Luceco in a research note on Monday, August 10th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a GBX 320 price objective on shares of Luceco in a report on Monday, August 10th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Luceco currently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 295.

Luceco Stock Down 5.4%

Shares of LUCE opened at GBX 222.41 on Tuesday. The firm has a market cap of £327.37 million, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 0.62 and a beta of 1.34. The company has a debt-to-equity ratio of 60.83, a quick ratio of 1.51 and a current ratio of 1.90. Luceco has a 52 week low of GBX 123 and a 52 week high of GBX 291. The firm's 50-day simple moving average is GBX 230.39 and its 200 day simple moving average is GBX 227.57.

Insider Transactions at Luceco

In related news, insider Janet Ryan purchased 3,706 shares of Luceco stock in a transaction dated Wednesday, July 1st. The shares were bought at an average cost of GBX 270 per share, for a total transaction of £10,006.20. Also, insider John Hornby sold 505,000 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of GBX 224, for a total transaction of £1,131,200. 23.25% of the stock is currently owned by corporate insiders.

Luceco Company Profile

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.

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