Luceco (LON:LUCE) Shares Down 11.8% – Should You Sell?

Luceco plc (LON:LUCE)’s stock price fell 11.8% on Tuesday . The stock traded as low as GBX 218.20 and last traded at GBX 225. Approximately 1,395,145 shares changed hands during mid-day trading, an increase of 73% from the average session volume of 804,375 shares. The stock had previously closed at GBX 255.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on LUCE shares. Berenberg Bank increased their price target on shares of Luceco from GBX 270 to GBX 300 and gave the stock a “buy” rating in a report on Tuesday. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 320 price objective on shares of Luceco in a report on Tuesday, June 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Luceco from GBX 225 to GBX 260 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 267.50.

Luceco Price Performance

The company has a 50-day simple moving average of GBX 266.16 and a 200-day simple moving average of GBX 208.59. The stock has a market cap of £331.18 million, a PE ratio of 16.79, a PEG ratio of 0.62 and a beta of 1.38. The company has a debt-to-equity ratio of 60.83, a current ratio of 1.90 and a quick ratio of 1.51.

Insider Activity at Luceco

In related news, insider Janet Ryan purchased 3,706 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was acquired at an average price of GBX 270 per share, for a total transaction of £10,006.20. Also, insider John Hornby sold 1,000,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of GBX 269, for a total transaction of £2,690,000. In the last quarter, insiders acquired 24,145 shares of company stock valued at $6,366,158 and sold 3,355,000 shares valued at $903,195,000. 23.59% of the stock is currently owned by company insiders.

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.