The stock of Luxottica Group SpA (ADR) (NYSE:LUX) is a huge mover today! The stock decreased 3.14% or $1.5 during the last trading session, hitting $46.32. About 108,410 shares traded hands or 138.27% up from the average. Luxottica Group SpA (ADR) (NYSE:LUX) has declined 19.37% since March 1, 2016 and is downtrending. It has underperformed by 31.59% the S&P500.
The move comes after 8 months negative chart setup for the $22.21 billion company. It was reported on Oct, 4 by Barchart.com. We have $44.00 PT which if reached, will make NYSE:LUX worth $1.11B less.
Luxottica Group SpA (ADR) (NYSE:LUX) Ratings Coverage
Out of 7 analysts covering Luxottica (NYSE:LUX), 3 rate it a “Buy”, 2 “Sell”, while 2 “Hold”. This means 43% are positive. Luxottica has been the topic of 8 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The rating was upgraded by Jefferies to “Hold” on Tuesday, February 9. Jefferies initiated the stock with “Underperform” rating in Friday, July 31 report. Credit Suisse initiated the stock with “Outperform” rating in Wednesday, June 15 report. The stock of Luxottica Group SpA (ADR) (NYSE:LUX) has “Buy” rating given on Tuesday, September 13 by Deutsche Bank. The stock has “Equal-Weight” rating given by Morgan Stanley on Monday, November 2. Raymond James upgraded the stock to “Outperform” rating in Wednesday, May 4 report. The rating was downgraded by Goldman Sachs to “Sell” on Friday, August 21. The stock of Luxottica Group SpA (ADR) (NYSE:LUX) earned “Underperform” rating by Bank of America on Monday, November 2.
According to Zacks Investment Research, “Luxottica Group is the world leader in the design, manufacture and marketing of high quality eyeglass frames and sunglasses in the mid and premium priced market segments. The Company’s products, which are designed and produced in four facilities based in Northern Italy, include over 1,700 styles available in a wide array of colors and sizes. The eyeglass and sunglass frames manufactured by Luxottica are sold through twelve wholly-owned distributors in the United States, Canada, Italy, France, Spain, Portugal, Sweden, Germany, the United Kingdom, Brazil, Switzerland and Mexico.”
More news for Luxottica Group SpA (ADR) (NYSE:LUX) were recently published by: Investorplace.com, which released: “Luxottica Group SpA (ADR) (LUX) Stock Doomed to Continued Declines” on March 08, 2016. Bidnessetc.com‘s article titled: “Luxottica Group Rises On Better-Than-Expected Earnings” and published on October 30, 2014 is yet another important article.
LUX Company Profile
Luxottica Group S.p.A., incorporated in 1981, is a holding company. The Firm is engaged in design, manufacture and distribution of fashion, luxury, sport and performance eyewear. The Company’s product design, development and manufacturing take place in over six production facilities in Italy, three factories in China, one production facility in Brazil and one production facility in the United States for sports and performance eyewear. The Firm operates through two divisions: manufacturing and wholesale distribution, and retail distribution. Through its manufacturing and wholesale distribution operations, the Company is engaged in the design, manufacturing, wholesale distribution and marketing of brands and designer lines of prescription frames and sunglasses, as well as of performance optics products. Through its retail operations, the Company owns and operates approximately 6,590 retail locations around the world and franchises an additional over 780 locations through its subsidiaries, Luxottica Retail North America, Inc., Sunglass Hut Trading, LLC, OPSM Group Limited, Oakley, Inc. (Oakley) and Multiopticas Internacional S.L. It operates its retail segment through its retail brands, which include LensCrafters, Sunglass Hut, Pearle Vision, ILORI, The Optical Shop of Aspen, GMO, OPSM, Laubman & Pank, Oakley O Stores and Vaults, David Clulow, and its retail licensed brands, Sears Optical and Target Optical.
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