Luceco (LON:LUCE) Stock Price Down 1.2% - Here's Why

Key Points

• Luceco shares fell 1.2% on Wednesday, trading as low as GBX 251 and last changing hands at GBX 257.85, below the prior close of GBX 261.
• Analysts remain bullish on the stock: Berenberg, Jefferies, and Deutsche Bank all maintained or raised their price targets, with a consensus rating of “Buy” and an average target of GBX 260.
• Insider selling was notable in recent transactions, including large share sales by John Hornby and Giles Brand, even as insiders still hold 23.59% of the company.

Luceco plc (LON:LUCE - Get Free Report)'s stock price traded down 1.2% on Wednesday . The stock traded as low as GBX 251 and last traded at GBX 257.85. Approximately 286,542 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 808,132 shares. The stock had previously closed at GBX 261.

Analyst Ratings Changes

Several research firms have issued reports on LUCE. Berenberg Bank upped their price target on shares of Luceco from GBX 200 to GBX 270 and gave the stock a "buy" rating in a research report on Tuesday, May 19th. Jefferies Financial Group reissued a "buy" rating and issued a GBX 320 price objective on shares of Luceco in a research report on Tuesday, June 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Luceco from GBX 225 to GBX 260 and gave the stock a "buy" rating in a research note on Wednesday, May 20th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Luceco currently has an average rating of "Buy" and a consensus price target of GBX 260.

Luceco Trading Down 1.2%

The firm has a market capitalization of £379.52 million, a P/E ratio of 19.24, 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. The firm has a 50 day moving average of GBX 265.10 and a 200-day moving average of GBX 206.03.

Insider Buying and Selling

In other news, insider John Hornby sold 100,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of GBX 276, for a total transaction of £276,000. Also, insider Giles Brand sold 475,000 shares of the firm's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of GBX 269, for a total value of £1,277,750. In the last quarter, insiders have bought 24,145 shares of company stock valued at $6,366,158 and have sold 3,355,000 shares valued at $903,195,000. 23.59% of the stock is currently owned by company insiders.

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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