Rexel (OTCMKTS:RXEEY) Shares Gap Down – Time to Sell?

Rexel S.A. (OTCMKTS:RXEEY)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $44.50, but opened at $40.00. Rexel shares last traded at $39.88, with a volume of 3,532 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Jefferies Financial Group raised shares of Rexel from a “hold” rating to a “buy” rating in a report on Wednesday, April 8th. Morgan Stanley reissued an “overweight” rating on shares of Rexel in a report on Monday, June 29th. Finally, Zacks Research raised shares of Rexel to a “hold” rating in a report on Tuesday, June 9th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Rexel Price Performance

The company has a market cap of $11.96 billion and a P/E ratio of 54.80. The company has a fifty day simple moving average of $43.12 and a 200-day simple moving average of $42.18.

About Rexel

Rexel is a global distributor specializing in electrical supplies and services for residential, commercial and industrial markets. The company’s product portfolio includes wiring, lighting, automation and control systems, energy management solutions, safety equipment and renewable energy products. Rexel supports its customers with technical expertise, digital tools and value-added services such as inventory management, project management and on-site support.

Headquartered in Paris, France, Rexel operates in more than 25 countries across Europe, North America, Asia-Pacific and Latin America.