Luceco (LON:LUCE) Given Buy Rating at Berenberg Bank

Key Points

• Berenberg Bank reiterated its “buy” rating on Luceco and maintained a GBX 300 price target, implying 48.51% upside from the stock’s GBX 202 price.
• Analyst sentiment remains positive overall, with three Buy ratings and one Hold rating; Luceco has a consensus rating of “Moderate Buy” and an average price target of GBX 295.
• Luceco shares were trading down 3.3%, while the company reported quarterly EPS of GBX 4.60, a 7.15% net margin, and a 19.62% return on equity. Insider John Hornby also sold 505,000 shares for approximately £1.13 million.

Luceco (LON:LUCE - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at Berenberg Bank in a research report issued to clients and investors on Tuesday, Digital Look reports. They currently have a GBX 300 target price on the stock. Berenberg Bank's target price indicates a potential upside of 48.51% from the company's current price.

Several other research firms also recently commented on LUCE. Jefferies Financial Group reissued a "buy" rating and issued a GBX 320 price objective on shares of Luceco in a research note on Monday, August 10th. Peel Hunt reaffirmed a "buy" rating and set a GBX 300 target price on shares of Luceco in a research note on Monday, August 10th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Luceco to a "hold" rating and set a GBX 260 target price for the company. in a report on Wednesday, July 29th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Luceco has an average rating of "Moderate Buy" and a consensus price target of GBX 295.

Luceco Trading Down 3.3%

Shares of LON:LUCE opened at GBX 202 on Tuesday. Luceco has a 12-month low of GBX 127 and a 12-month high of GBX 291. The company has a market capitalization of £297.32 million, a PE ratio of 14.74, a PEG ratio of 0.62 and a beta of 1.29. The business has a 50 day moving average of GBX 216.09 and a two-hundred day moving average of GBX 210.89. The company has a current ratio of 2.16, a quick ratio of 1.51 and a debt-to-equity ratio of 78.23.

Luceco (LON:LUCE - Get Free Report) last posted its earnings results on Tuesday, September 22nd. The company reported GBX 4.60 earnings per share (EPS) for the quarter. Luceco had a net margin of 7.15% and a return on equity of 19.62%. As a group, analysts forecast that Luceco will post 12.59 EPS for the current year.

Insider Buying and Selling at Luceco

In other Luceco news, insider John Hornby sold 505,000 shares of the business's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of GBX 224, for a total transaction of £1,131,200. Insiders own 23.25% 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.