Luceco's (LUCE) "Buy" Rating Reaffirmed at Jefferies Financial Group

Key Points

• Jefferies reaffirmed its “Buy” rating on Luceco and set a GBX 320 price target, implying 45.45% upside from the prior close.
• Analyst sentiment remains positive: Luceco has three Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and average target of GBX 267.50.
• Luceco shares opened at GBX 220, while recent insider activity included purchases by Will Hoy and substantial sales by Giles Brand; insiders currently own 23.59% of the company.

Luceco (LON:LUCE - Get Free Report)'s stock had its "buy" rating reissued by research analysts at Jefferies Financial Group in a report released on Wednesday,Digital Look reports. They currently have a GBX 320 price objective on the stock. Jefferies Financial Group's target price would indicate a potential upside of 45.45% from the company's previous close.

LUCE has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Luceco from GBX 225 to GBX 260 and gave the stock a "buy" rating in a research report on Wednesday, May 20th. Berenberg Bank lifted their price objective on shares of Luceco from GBX 270 to GBX 300 and gave the stock a "buy" rating in a research note on Tuesday. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of GBX 267.50.

Luceco Stock Performance

Shares of Luceco stock opened at GBX 220 on Wednesday. The firm has a market capitalization of £323.82 million, a P/E ratio of 16.42, 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 company has a 50 day moving average price of GBX 265.86 and a 200 day moving average price of GBX 209.24. Luceco has a 52 week low of GBX 111.60 and a 52 week high of GBX 291.

Insider Transactions at Luceco

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