Luceco (LON:LUCE) Trading Up 12.1% Following Analyst Upgrade

Luceco plc (LON:LUCE) shares rose 12.1% during mid-day trading on Wednesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from GBX 225 to GBX 260. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Luceco traded as high as GBX 270 and last traded at GBX 269. Approximately 3,554,502 shares changed hands during mid-day trading, an increase of 353% from the average daily volume of 784,298 shares. The stock had previously closed at GBX 240.

Separately, Berenberg Bank raised their price objective on Luceco from GBX 200 to GBX 270 and gave the stock a “buy” rating in a research note on Tuesday. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Luceco currently has a consensus rating of “Buy” and a consensus price target of GBX 240.

Insider Transactions at Luceco

In other Luceco news, insider Will Hoy purchased 809 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were purchased at an average cost of GBX 222 per share, for a total transaction of £1,795.98. Also, insider John Hornby purchased 810 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was acquired at an average price of GBX 222 per share, for a total transaction of £1,798.20. 24.11% of the stock is owned by insiders.

Luceco Trading Up 12.7%

The company has a market capitalization of £397.96 million, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 0.62 and a beta of 1.32. The business has a fifty day moving average price of GBX 196.29 and a 200 day moving average price of GBX 162.46. The company has a debt-to-equity ratio of 60.83, a current ratio of 1.90 and a quick ratio of 1.51.

Luceco (LON:LUCE) last issued its quarterly earnings results on Wednesday, March 25th. The company reported GBX 15 EPS for the quarter. Luceco had a return on equity of 20.71% and a net margin of 7.48%. On average, equities analysts expect that Luceco plc will post 12.5907591 EPS for the current fiscal year.

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.