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

Shares of Luceco plc (LON:LUCE) were up 12.1% during 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 traded hands during 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 increased their target price on Luceco from GBX 200 to GBX 270 and gave the stock a “buy” rating in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Luceco has an average rating of “Buy” and an average price target of GBX 240.

Insider Buying and Selling

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

Luceco Price Performance

The company has a market capitalization of £397.96 million, a P/E ratio of 20.18, a P/E/G ratio of 0.62 and a beta of 1.32. The company has a 50 day moving average price of GBX 196.29 and a 200 day moving average price of GBX 162.46. The company has a current ratio of 1.90, a quick ratio of 1.51 and a debt-to-equity ratio of 60.83.

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

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.