EssilorLuxottica (OTCMKTS:ESLOY) Trading 7.8% Higher – Here’s Why

EssilorLuxottica Unsponsored ADR (OTCMKTS:ESLOY) shares shot up 7.8% on Wednesday . The stock traded as high as $164.51 and last traded at $160.72. 45,800 shares changed hands during trading, a decline of 46% from the average session volume of 85,300 shares. The stock had previously closed at $149.14.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ESLOY. Zacks Research downgraded shares of EssilorLuxottica from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Kepler Capital Markets upgraded EssilorLuxottica from a “hold” rating to a “buy” rating in a report on Thursday, January 15th. HSBC raised EssilorLuxottica from a “hold” rating to a “buy” rating in a research note on Wednesday, January 14th. Citigroup reaffirmed a “buy” rating on shares of EssilorLuxottica in a research note on Thursday, December 11th. Finally, UBS Group upgraded shares of EssilorLuxottica from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 27th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy”.

EssilorLuxottica Stock Up 12.0%

The stock’s 50 day simple moving average is $159.97 and its two-hundred day simple moving average is $163.38. The company has a current ratio of 0.97, a quick ratio of 0.67 and a debt-to-equity ratio of 0.18.

About EssilorLuxottica

EssilorLuxottica SE is a global ophthalmic optics company formed through the 2018 merger of France-based Essilor and Italy-based Luxottica. Headquartered near Paris, the company combines lens manufacturing, frame design and production, brand management and retail operations to provide a vertically integrated offering across the vision care value chain. Its activities span product research and development, manufacturing, wholesale distribution and retailing of spectacles, sunglasses and ophthalmic lenses.

The company’s product portfolio includes prescription and non-prescription lenses, lens coatings and treatments, and an array of eyewear brands and frames.