Luceco (LON:LUCE) Lowered to Hold Rating by Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank downgraded Luceco to “Hold” while maintaining a GBX 260 price target, implying approximately 18.18% upside from the current price.
• Analyst sentiment remains broadly positive: Berenberg raised its target to GBX 300 and Jefferies reiterated a “Buy” rating with a GBX 320 target. Luceco has a consensus “Moderate Buy” rating and an average target of GBX 267.50.
• Luceco shares opened at GBX 220, down 2.2%, while insider activity was mixed as one insider sold 475,000 shares and another bought 18,820 shares.

Luceco (LON:LUCE - Get Free Report) was downgraded by investment analysts at Deutsche Bank Aktiengesellschaft to a "hold" rating in a research note issued to investors on Wednesday,Digital Look reports. They currently have a GBX 260 target price on the stock. Deutsche Bank Aktiengesellschaft's price target suggests a potential upside of 18.18% from the company's current price.

Several other equities research analysts have also issued reports on the stock. Berenberg Bank boosted their price target on shares of Luceco from GBX 270 to GBX 300 and gave the company a "buy" rating in a report on Tuesday. Jefferies Financial Group reiterated a "buy" rating and issued a GBX 320 price target on shares of Luceco in a research report on Wednesday. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of GBX 267.50.

Luceco Stock Down 2.2%

Shares of LUCE opened at GBX 220 on Wednesday. Luceco has a 52 week low of GBX 111.60 and a 52 week high of GBX 291. The firm has a market capitalization of £323.82 million, a P/E ratio of 16.42, a P/E/G ratio of 0.62 and a beta of 1.38. The company has a 50-day simple moving average of GBX 265.86 and a 200-day simple moving average of GBX 209.24. The company has a debt-to-equity ratio of 60.83, a quick ratio of 1.51 and a current ratio of 1.90.

Insider Buying and Selling

In other news, insider Giles Brand sold 475,000 shares of Luceco stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of GBX 269, for a total transaction of £1,277,750. Also, insider Will Hoy bought 18,820 shares of the firm's stock in a transaction on Thursday, June 18th. The stock was acquired at an average cost of GBX 266 per share, with a total value of £50,061.20. In the last three months, insiders acquired 24,145 shares of company stock valued at $6,366,158 and sold 3,355,000 shares valued at $903,195,000. Company insiders own 23.59% of the company's stock.

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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