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

LeGrand SA (OTCMKTS:LGRDY) shares gapped down before the market opened 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 trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Zacks Research upgraded shares of LeGrand from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded LeGrand from a “hold” rating to a “buy” rating in a report on Wednesday, September 2nd. Royal Bank Of Canada upgraded LeGrand from a “sector perform” rating to an “outperform” rating in a report on Monday, August 3rd. Evercore raised shares of LeGrand from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 2nd. Finally, Morgan Stanley reiterated an “overweight” rating on shares of LeGrand in a report on Friday, August 28th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

LeGrand Trading Down 2.1%

The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.12 and a current ratio of 1.58. The company has a 50 day simple moving average of $31.71 and a two-hundred day simple moving average of $32.82. The firm has a market cap of $38.16 billion, a PE ratio of 25.09, a P/E/G ratio of 1.63 and a beta of 0.99.

LeGrand (OTCMKTS:LGRDY) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.04). The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.18 billion. LeGrand had a net margin of 13.01% and a return on equity of 17.74%. Analysts expect that LeGrand SA will post 1.38 EPS for the current fiscal year.

LeGrand Company Profile

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.