Luceco (LON:LUCE) Receives Buy Rating from Berenberg Bank

Luceco (LON:LUCE)‘s stock had its “buy” rating restated by analysts at Berenberg Bank in a note issued to investors on Tuesday, Digital Look reports. They presently have a GBX 300 target price on the stock. Berenberg Bank’s price target would suggest a potential upside of 34.88% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. Peel Hunt reiterated a “buy” rating and set a GBX 300 target price on shares of Luceco in a research report on Monday, August 10th. Jefferies Financial Group restated a “buy” rating and issued a GBX 320 price target on shares of Luceco in a report on Monday, August 10th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Luceco to a “hold” rating and set a GBX 260 price target for the company. in a research note on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of GBX 295.

Luceco Price Performance

Luceco stock opened at GBX 222.41 on Tuesday. The stock has a market capitalization of £327.37 million, a price-to-earnings ratio of 16.60, a PEG ratio of 0.62 and a beta of 1.34. Luceco has a 52-week low of GBX 123 and a 52-week high of GBX 291. The company has a debt-to-equity ratio of 60.83, a quick ratio of 1.51 and a current ratio of 1.90. The stock’s 50 day moving average price is GBX 230.39 and its two-hundred day moving average price is GBX 227.57.

Insider Buying and Selling

In other news, insider John Hornby sold 505,000 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of GBX 224, for a total transaction of £1,131,200. Also, insider Janet Ryan bought 3,706 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was purchased at an average price of GBX 270 per share, for a total transaction of £10,006.20. Company insiders own 23.25% of the company’s stock.

About Luceco

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.