LeGrand (OTCMKTS:LGRDY) Shares Gap Down – Here’s Why

LeGrand SA (OTCMKTS:LGRDY) shares gapped down prior to trading on Wednesday . The stock had previously closed at $35.26, but opened at $32.84. LeGrand shares last traded at $32.70, with a volume of 1,637 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LGRDY. Evercore raised shares of LeGrand to a “hold” rating in a research report on Monday, April 13th. Kepler Capital Markets cut shares of LeGrand from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of LeGrand in a research note on Tuesday. Finally, Citigroup reissued a “buy” rating on shares of LeGrand in a report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold”.

LeGrand Stock Performance

The firm has a fifty day simple moving average of $34.68 and a 200-day simple moving average of $32.71. The company has a quick ratio of 1.39, a current ratio of 1.96 and a debt-to-equity ratio of 0.81. The company has a market cap of $43.34 billion, a PE ratio of 30.05, a price-to-earnings-growth ratio of 2.75 and a beta of 0.96.

LeGrand (OTCMKTS:LGRDY) last announced its earnings results on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.01). LeGrand had a return on equity of 16.89% and a net margin of 13.29%.The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.90 billion. On average, research analysts forecast that LeGrand SA will post 1.41 EPS for the current fiscal year.

LeGrand Company Profile

Legrand (OTCMKTS: LGRDY) is a French multinational that designs, manufactures and distributes electrical and digital building infrastructure solutions. The company’s product portfolio spans wiring devices such as switches and outlets, cable management and trunking systems, power distribution and protection equipment, lighting control and energy management systems, as well as solutions for data centers and building automation. Its offerings are positioned for new construction and retrofit projects in residential, commercial, industrial and institutional buildings.

Legrand supplies both branded products and integrated systems to electrical contractors, distributors, installers and original equipment manufacturers.