Luceco plc (LON:LUCE – Get Free Report) shares were down 11.8% during mid-day trading on Tuesday . The company traded as low as GBX 218.20 and last traded at GBX 225. 1,395,145 shares were traded during trading, an increase of 73% from the average session volume of 804,375 shares. The stock had previously closed at GBX 255.
Analysts Set New Price Targets
LUCE has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Luceco from GBX 225 to GBX 260 and gave the company a “buy” rating in a report on Wednesday, May 20th. Berenberg Bank raised their price objective on shares of Luceco from GBX 270 to GBX 300 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Jefferies Financial Group reissued a “buy” rating and set a GBX 320 price objective on shares of Luceco in a research report on Tuesday, June 16th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Luceco has an average rating of “Buy” and a consensus target price of GBX 267.50.
Read Our Latest Report on Luceco
Luceco Trading Down 11.8%
Insider Buying and Selling
In related news, insider Janet Ryan bought 3,706 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were acquired at an average price of GBX 270 per share, with a total value of £10,006.20. Also, insider John Hornby sold 1,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of GBX 269, for a total value of £2,690,000. In the last ninety days, insiders acquired 24,145 shares of company stock worth $6,366,158 and sold 3,355,000 shares worth $903,195,000. Company insiders own 23.59% 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.
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