LeGrand (OTCMKTS:LGRDY) Shares Gap Down – What’s Next?

LeGrand SA (OTCMKTS:LGRDY) shares gapped down prior to trading on Monday. The stock had previously closed at $30.24, but opened at $29.24. LeGrand shares last traded at $29.04, with a volume of 4,419 shares traded.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LGRDY. Evercore raised shares of LeGrand from a “hold” rating to a “strong-buy” rating in a report on Friday, October 2nd. Royal Bank Of Canada raised shares of LeGrand from a “sector perform” rating to an “outperform” rating in a research note on Monday, August 3rd. Morgan Stanley reaffirmed an “overweight” rating on shares of LeGrand in a research note on Friday, August 28th. Deutsche Bank Aktiengesellschaft raised shares of LeGrand from a “hold” rating to a “buy” rating in a report on Wednesday, September 2nd. Finally, Zacks Research upgraded shares of LeGrand from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, LeGrand has a consensus rating of “Moderate Buy”.

LeGrand Trading Down 1.5%

The business has a 50 day simple moving average of $31.58 and a 200 day simple moving average of $32.78. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.58 and a quick ratio of 1.12. The company has a market cap of $37.51 billion, a price-to-earnings ratio of 25.03, a price-to-earnings-growth ratio of 1.59 and a beta of 0.99.

LeGrand (OTCMKTS:LGRDY) last announced its earnings results on Wednesday, July 29th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). LeGrand had a net margin of 13.01% and a return on equity of 17.74%. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.18 billion. As a group, equities analysts forecast that LeGrand SA will post 1.38 EPS for the current year.

About LeGrand

Legrand SA is a France-based manufacturer of electrical and digital building infrastructure products. Its portfolio includes wiring devices, switches and sockets, circuit protection and power distribution equipment, cable management systems, lighting controls, and home and building automation solutions.

The company also provides infrastructure for data centers and communication networks, including connectivity, racks, power-management equipment, and uninterruptible power systems. Its products are used in residential, commercial, industrial, and institutional buildings.

Legrand traces its origins to a porcelain manufacturing business established in Limoges, France, in 1904, and later expanded into electrical equipment and building systems.