Luceco (LON:LUCE) Stock Rating Reaffirmed as Buy by Jefferies Financial Group

Key Points

• Jefferies reaffirmed its “Buy” rating on Luceco and maintained a GBX 325 price target, implying approximately 63.4% upside from the current price.
• Analyst sentiment remains positive overall: Luceco has a consensus “Moderate Buy” rating and an average price target of GBX 296.25, though Deutsche Bank downgraded the stock to “Hold.”
• Luceco shares fell 4.8% to GBX 198.89 during Tuesday trading, despite reporting quarterly earnings of GBX 4.60 per share and analysts forecasting full-year EPS of GBX 12.59.

Luceco (LON:LUCE - Get Free Report)'s stock had its "buy" rating reiterated by analysts at Jefferies Financial Group in a research note issued on Tuesday, London Stock Exchange reports. They presently have a GBX 325 price objective on the stock. Jefferies Financial Group's price objective points to a potential upside of 63.41% from the company's current price.

Several other analysts have also issued reports on the company. Berenberg Bank reiterated a "buy" rating and set a GBX 300 price objective on shares of Luceco in a report on Tuesday. Peel Hunt restated a "buy" rating and issued a GBX 300 target price on shares of Luceco in a research note on Monday, August 10th. Finally, Deutsche Bank Aktiengesellschaft lowered Luceco to a "hold" rating and set a GBX 260 target price on the stock. in a research report on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Luceco currently has a consensus rating of "Moderate Buy" and an average price target of GBX 296.25.

Luceco Stock Down 4.8%

Shares of LUCE stock traded down GBX 10.11 during trading on Tuesday, hitting GBX 198.89. 5,908,308 shares of the company were exchanged, compared to its average volume of 803,373. The company has a debt-to-equity ratio of 78.23, a quick ratio of 1.51 and a current ratio of 2.16. The firm has a market capitalization of £292.75 million, a price-to-earnings ratio of 14.52, a P/E/G ratio of 0.62 and a beta of 1.29. The business's 50-day simple moving average is GBX 216.09 and its 200 day simple moving average is GBX 210.89. Luceco has a twelve month low of GBX 127 and a twelve month high of GBX 291.

Luceco (LON:LUCE - Get Free Report) last released its quarterly earnings data on Tuesday, September 22nd. The company reported GBX 4.60 earnings per share 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 fiscal year.

Insider Transactions at Luceco

In other Luceco news, insider John Hornby sold 505,000 shares of the business'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 value of £1,131,200. 23.25% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.