Luceco (LON:LUCE) Given "Buy" Rating at Peel Hunt

Key Points

• Peel Hunt reiterated its “Buy” rating on Luceco and maintained a GBX 300 price target, implying 32.74% upside from the reported GBX 226 share price.
• Analyst sentiment remains positive overall, with three Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average target of GBX 295. Price targets range from GBX 260 to GBX 320.
• Insiders Janet Ryan and Will Hoy recently purchased Luceco shares, while company insiders own 23.59% of the stock; Luceco shares were reported up 0.4% on Monday.

Luceco (LON:LUCE - Get Free Report)'s stock had its "buy" rating reiterated by Peel Hunt in a note issued to investors on Monday,Digital Look reports. They presently have a GBX 300 target price on the stock. Peel Hunt's price target suggests a potential upside of 32.74% from the company's current price.

Other analysts also recently issued research reports about the stock. Berenberg Bank increased their target price on shares of Luceco from GBX 270 to GBX 300 and gave the company a "buy" rating in a report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft cut shares of Luceco to a "hold" rating and set a GBX 260 price target on the stock. in a report on Wednesday, July 29th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a GBX 320 price objective on shares of Luceco in a research report on Monday. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of GBX 295.

Luceco Trading Up 0.4%

LON LUCE opened at GBX 226 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.51 and a debt-to-equity ratio of 60.83. The business has a fifty day simple moving average of GBX 258.04 and a 200 day simple moving average of GBX 214.34. Luceco has a 12 month low of GBX 111.60 and a 12 month high of GBX 291. The firm has a market capitalization of £332.65 million, a P/E ratio of 16.87, a PEG ratio of 0.62 and a beta of 1.38.

Insiders Place Their Bets

In other Luceco news, insider Janet Ryan bought 3,706 shares of the 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 Will Hoy purchased 18,820 shares of Luceco stock in a transaction that occurred on Thursday, June 18th. The shares were bought at an average price of GBX 266 per share, with a total value of £50,061.20. Over the last 90 days, insiders have sold 3,355,000 shares of company stock valued at $903,195,000. 23.59% of the stock is currently 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.

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