Luceco (LON:LUCE) Shares Down 12% – Here’s Why

Luceco plc (LON:LUCE)’s stock price fell 12% during trading on Monday . The stock traded as low as GBX 249 and last traded at GBX 253.41. 1,673,827 shares traded hands during mid-day trading, an increase of 104% from the average session volume of 821,728 shares. The stock had previously closed at GBX 288.02.

Analyst Upgrades and Downgrades

Several research firms have commented on LUCE. Berenberg Bank upped their price target on shares of Luceco from GBX 200 to GBX 270 and gave the company a “buy” rating in a report on Tuesday, May 19th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Luceco from GBX 225 to GBX 260 and gave the company a “buy” rating in a report on Wednesday, May 20th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 320 price target on shares of Luceco in a report on Tuesday. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, Luceco has a consensus rating of “Buy” and an average price target of GBX 260.

Luceco Stock Performance

The business’s 50-day simple moving average is GBX 238.35 and its two-hundred day simple moving average is GBX 182.51. The firm has a market cap of £378.31 million, a price-to-earnings ratio of 19.18, a P/E/G ratio of 0.62 and a beta of 1.35. The company has a quick ratio of 1.51, a current ratio of 1.90 and a debt-to-equity ratio of 60.83.

Luceco (LON:LUCE) last issued its quarterly earnings data on Wednesday, March 25th. The company reported GBX 15 earnings per share for the quarter. Luceco had a net margin of 7.48% and a return on equity of 20.71%. As a group, sell-side analysts expect that Luceco plc will post 12.5907591 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Luceco news, insider Giles Brand sold 1,780,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of GBX 269, for a total value of £4,788,200. Also, insider Will Hoy acquired 809 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was purchased at an average price of GBX 222 per share, with a total value of £1,795.98. Over the last quarter, insiders sold 3,355,000 shares of company stock worth $903,195,000. Company insiders own 23.57% of the company’s stock.

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.