Luceco (LON:LUCE) Stock Price Expected to Rise, Berenberg Bank Analyst Says

Key Points

• Berenberg Bank raised Luceco’s price target from GBX 270 to GBX 300 while maintaining a “buy” rating, implying 27.66% potential upside from the current share price.
• Analyst sentiment remains positive: all four tracked analysts rate Luceco a “Buy,” with an average price target of GBX 267.50; Jefferies has the highest target at GBX 320.
• Luceco shares opened at GBX 235 after declining 7.8%, while insider activity was mixed: one insider sold 100,000 shares and another bought 18,820 shares.

Luceco (LON:LUCE - Get Free Report) had its target price raised by equities researchers at Berenberg Bank from GBX 270 to GBX 300 in a report released on Tuesday,Digital Look reports. The brokerage currently has a "buy" rating on the stock. Berenberg Bank's target price indicates a potential upside of 27.66% from the stock's current price.

Other analysts also recently issued research reports about the company. Jefferies Financial Group reaffirmed a "buy" rating and issued a GBX 320 target price on shares of Luceco in a research report on Tuesday, June 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Luceco from GBX 225 to GBX 260 and gave the company a "buy" rating in a research report on Wednesday, May 20th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of GBX 267.50.

Luceco Stock Down 7.8%

LUCE stock opened at GBX 235 on Tuesday. The company has a debt-to-equity ratio of 60.83, a current ratio of 1.90 and a quick ratio of 1.51. The stock has a market capitalization of £345.90 million, a P/E ratio of 17.54, a P/E/G ratio of 0.62 and a beta of 1.38. Luceco has a fifty-two week low of GBX 111.60 and a fifty-two week high of GBX 291. The business has a 50-day moving average of GBX 266.16 and a 200-day moving average of GBX 208.59.

Insider Activity at Luceco

In other Luceco news, insider John Hornby sold 100,000 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of GBX 276, for a total value of £276,000. Also, insider Will Hoy acquired 18,820 shares of the business's stock in a transaction 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. In the last quarter, insiders have purchased 24,145 shares of company stock worth $6,366,158 and have sold 3,355,000 shares worth $903,195,000. 23.59% of the stock is 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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