Luxottica Group SpA (NYSE:LUX) – Investment analysts at Jefferies Group decreased their FY2016 earnings estimates for Luxottica Group SpA in a research note issued to investors on Friday. Jefferies Group analyst J. Grzinic now forecasts that the brokerage will earn $1.97 per share for the year, down from their previous forecast of $2.17. Jefferies Group also issued estimates for Luxottica Group SpA’s FY2017 earnings at $2.12 EPS.
LUX has been the subject of several other research reports. Deutsche Bank AG upgraded Luxottica Group SpA from a “hold” rating to a “buy” rating in a research note on Tuesday, September 13th. Bank of America Corp. reaffirmed a “sell” rating and issued a $41.00 price target on shares of Luxottica Group SpA in a report on Thursday, September 29th. Zacks Investment Research raised Luxottica Group SpA from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a report on Wednesday, September 28th. Credit Suisse Group AG started coverage on Luxottica Group SpA in a report on Wednesday, June 15th. They issued an “outperform” rating on the stock. Finally, RBC Capital Markets cut Luxottica Group SpA from an “outperform” rating to a “sector perform” rating in a report on Monday, August 8th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Luxottica Group SpA presently has an average rating of “Hold” and a consensus price target of $48.50.
Shares of Luxottica Group SpA (NYSE:LUX) opened at 45.01 on Monday. Luxottica Group SpA has a one year low of $45.01 and a one year high of $72.55. The firm’s 50-day moving average is $48.03 and its 200 day moving average is $50.99. The firm has a market capitalization of $21.58 billion, a P/E ratio of 25.09 and a beta of 0.85.
Several institutional investors have recently made changes to their positions in the stock. US Bancorp DE raised its position in Luxottica Group SpA by 35.2% in the second quarter. US Bancorp DE now owns 2,144 shares of the company’s stock valued at $105,000 after buying an additional 558 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in Luxottica Group SpA during the first quarter valued at about $110,000. Sei Investments Co. raised its position in Luxottica Group SpA by 136.1% in the second quarter. Sei Investments Co. now owns 2,309 shares of the company’s stock valued at $113,000 after buying an additional 1,331 shares during the last quarter. Toronto Dominion Bank raised its position in Luxottica Group SpA by 16.7% in the second quarter. Toronto Dominion Bank now owns 2,800 shares of the company’s stock valued at $138,000 after buying an additional 400 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Luxottica Group SpA by 0.9% in the second quarter. Bank of New York Mellon Corp now owns 4,369 shares of the company’s stock valued at $213,000 after buying an additional 38 shares during the last quarter. 1.19% of the stock is currently owned by institutional investors.
About Luxottica Group SpA
Luxottica Group S.p.A. is a holding company. The Company is engaged in the design, manufacture and distribution of fashion, luxury, sport and performance eyewear. The Company operates through two segments: manufacturing and wholesale distribution, and retail distribution. Through its manufacturing and wholesale distribution operations, the Company is engaged in design, manufacturing, wholesale distribution and marketing of brands and designer lines of prescription frames and sunglasses, as well as of performance optics products.
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