Luxottica Group (LUXTY) Rating Lowered to Hold at Zacks Investment Research

Luxottica Group (OTCMKTS:LUXTY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, January 31st.

According to Zacks, “Luxottica Group is the world leader in the design, manufacture and marketing of high quality eyeglass frames and sunglasses in the mid and premium priced market segments. The Company’s products, which are designed and produced in four facilities based in Northern Italy, include over 1,700 styles available in a wide array of colors and sizes. The eyeglass and sunglass frames manufactured by Luxottica are sold through twelve wholly-owned distributors in the United States, Canada, Italy, France, Spain, Portugal, Sweden, Germany, the United Kingdom, Brazil, Switzerland and Mexico. “

Separately, Societe Generale cut shares of Luxottica Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th.

Shares of Luxottica Group (OTCMKTS LUXTY) opened at $62.33 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.10 and a current ratio of 1.53. Luxottica Group has a 52 week low of $51.18 and a 52 week high of $64.59.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bluestein R H & Co. boosted its position in shares of Luxottica Group by 6.5% during the third quarter. Bluestein R H & Co. now owns 16,503 shares of the company’s stock worth $920,000 after acquiring an additional 1,000 shares during the last quarter. Eqis Capital Management Inc. boosted its position in shares of Luxottica Group by 18.5% during the third quarter. Eqis Capital Management Inc. now owns 11,682 shares of the company’s stock worth $651,000 after acquiring an additional 1,822 shares during the last quarter. Boston Financial Mangement LLC boosted its position in shares of Luxottica Group by 0.9% during the third quarter. Boston Financial Mangement LLC now owns 308,125 shares of the company’s stock worth $17,172,000 after acquiring an additional 2,837 shares during the last quarter. Virtu KCG Holdings LLC boosted its position in shares of Luxottica Group by 118.0% during the second quarter. Virtu KCG Holdings LLC now owns 8,836 shares of the company’s stock worth $515,000 after acquiring an additional 4,783 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Luxottica Group by 3.2% during the second quarter. Parametric Portfolio Associates LLC now owns 249,026 shares of the company’s stock worth $14,513,000 after acquiring an additional 7,613 shares during the last quarter. 0.44% of the stock is owned by hedge funds and other institutional investors.

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About Luxottica Group

Luxottica Group S.p.A. is a holding company. The Company is engaged in the design, manufacture and distribution of fashion, luxury, sport and performance eyewear. The Company operates through two segments: manufacturing and wholesale distribution, and retail distribution. Through its manufacturing and wholesale distribution operations, the Company is engaged in design, manufacturing, wholesale distribution and marketing of brands and designer lines of prescription frames and sunglasses, as well as of performance optics products.

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