Rexel (OTCMKTS:RXEEY) Share Price Crosses Above 50-Day Moving Average – Here’s Why

Shares of Rexel S.A. (OTCMKTS:RXEEY) passed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $39.99 and traded as high as $40.60. Rexel shares last traded at $40.60, with a volume of 14,994 shares.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley restated an “overweight” rating on shares of Rexel in a research note on Tuesday, October 6th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Rexel Price Performance

The firm has a 50-day simple moving average of $39.99 and a 200 day simple moving average of $41.73.

About Rexel

Rexel is a France-based distributor of electrical products and services, serving professional customers such as electricians, contractors, industrial companies and building operators. The company supplies equipment used in residential, commercial and industrial projects, including electrical installation materials, lighting, automation and control systems, cables, and energy-management solutions. In addition to product distribution, Rexel provides services such as technical advice, logistics support and digital tools designed to help customers plan and manage projects.