Notable Price Action: What’s Propelling Luxottica Group SpA (ADR) to Reach Yearly Low?

Notable Price Action: What's Propelling Luxottica Group SpA (ADR) to Reach Yearly Low?

The stock of Luxottica Group SpA (ADR) (NYSE:LUX) hit a new 52-week low and has $43.22 target or 5.00% below today’s $45.49 share price. The 9 months bearish chart indicates high risk for the $22.14B company. The 1-year low was reported on Oct, 13 by Barchart.com. If the $43.22 price target is reached, the company will be worth $1.11 billion less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 39,873 shares traded hands. Luxottica Group SpA (ADR) (NYSE:LUX) has declined 20.21% since March 10, 2016 and is downtrending. It has underperformed by 27.73% the S&P500.

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. On Wednesday, June 15 the stock rating was initiated by Credit Suisse with “Outperform”. The firm has “Equal-Weight” rating given on Monday, November 2 by Morgan Stanley. The company was downgraded on Friday, August 21 by Goldman Sachs. The stock of Luxottica Group SpA (ADR) (NYSE:LUX) earned “Hold” rating by Jefferies on Tuesday, February 9. Jefferies initiated the shares of LUX in a report on Friday, July 31 with “Underperform” rating. The firm has “Buy” rating by Deutsche Bank given on Tuesday, September 13. The company was downgraded on Monday, November 2 by Bank of America. Raymond James upgraded Luxottica Group SpA (ADR) (NYSE:LUX) on Wednesday, May 4 to “Outperform” rating.

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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