Jefferies Financial Group Reiterates Buy Rating for Luceco (LON:LUCE)

Key Points

• Jefferies Financial Group reaffirmed its “Buy” rating on Luceco and set a GBX 320 price target, implying 41.59% upside from the previous close.
• Analyst sentiment remains favorable, with three Buy ratings and one Hold rating giving Luceco a consensus rating of “Moderate Buy” and an average target of GBX 267.50.
• Luceco shares opened at GBX 226, while insiders sold 3.355 million shares worth approximately £9.0 million during the latest quarter; insiders still own 23.59% of the company.

Luceco (LON:LUCE - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Jefferies Financial Group in a research note issued on Monday,London Stock Exchange reports. They presently have a GBX 320 price objective on the stock. Jefferies Financial Group's price objective would indicate a potential upside of 41.59% from the stock's previous close.

Several other research analysts have also weighed in on LUCE. Deutsche Bank Aktiengesellschaft lowered Luceco to a "hold" rating and set a GBX 260 price objective for the company. in a research report on Wednesday, July 29th. Berenberg Bank upped their target price on Luceco from GBX 270 to GBX 300 and gave the company a "buy" rating in a research report on Tuesday, July 28th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Luceco currently has a consensus rating of "Moderate Buy" and an average price target of GBX 267.50.

Luceco Price Performance

LUCE stock opened at GBX 226 on Monday. The firm has a market cap of £332.65 million, a price-to-earnings ratio of 16.87, a PEG ratio of 0.62 and a beta of 1.38. The company has a quick ratio of 1.51, a current ratio of 1.90 and a debt-to-equity ratio of 60.83. Luceco has a 12-month low of GBX 111.60 and a 12-month high of GBX 291. The company's fifty day simple moving average is GBX 258.04 and its 200 day simple moving average is GBX 214.34.

Insider Activity at Luceco

In related news, insider John Hornby sold 1,000,000 shares of the business's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of GBX 269, for a total transaction of £2,690,000. Also, insider Giles Brand sold 1,780,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of GBX 269, for a total transaction of £4,788,200. Insiders have sold 3,355,000 shares of company stock worth $903,195,000 over the last quarter. 23.59% of the stock is currently owned by 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.

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