Luceco (LON:LUCE) Share Price Passes Below 50-Day Moving Average - Here's Why

Key Points

• Luceco shares fell below their 50-day moving average, trading as low as GBX 228 versus the GBX 253.53 average, on volume of 228,910 shares.
• Analyst sentiment remains positive overall, with three Buy ratings and one Hold rating. The consensus target price is GBX 295, implying potential upside from the latest trading level.
• Insiders have been selling shares, including more than 3.35 million shares worth approximately $903.2 million over the past 90 days; insiders retain a 23.59% ownership stake.

Luceco plc (LON:LUCE - Get Free Report) passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of GBX 253.53 and traded as low as GBX 228. Luceco shares last traded at GBX 228, with a volume of 228,910 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on LUCE shares. Jefferies Financial Group reissued a "buy" rating and issued a GBX 320 price objective on shares of Luceco in a report on Monday, August 10th. Deutsche Bank Aktiengesellschaft lowered shares of Luceco to a "hold" rating and set a GBX 260 target price for the company. in a research report on Wednesday, July 29th. Berenberg Bank lifted their target price on shares of Luceco from GBX 270 to GBX 300 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. Finally, Peel Hunt reissued a "buy" rating and issued a GBX 300 price target on shares of Luceco in a research report on Monday, August 10th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Luceco currently has an average rating of "Moderate Buy" and a consensus target price of GBX 295.

Luceco Stock Performance

The company has a quick ratio of 1.51, a current ratio of 1.90 and a debt-to-equity ratio of 60.83. The company has a market capitalization of £335.59 million, a PE ratio of 17.01, a PEG ratio of 0.62 and a beta of 1.38. The company has a 50-day moving average price of GBX 253.53 and a two-hundred day moving average price of GBX 218.46.

Insider Buying and Selling

In other news, insider Giles Brand sold 475,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of GBX 269, for a total value of £1,277,750. Also, insider John Hornby sold 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of GBX 276, for a total transaction of £276,000. In the last ninety days, insiders have sold 3,355,000 shares of company stock valued at $903,195,000. Corporate insiders own 23.59% 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.

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