LeGrand (OTCMKTS:LGRDY) Shares Gap Up – Here’s What Happened

LeGrand SA (OTCMKTS:LGRDY)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $31.76, but opened at $32.91. LeGrand shares last traded at $32.76, with a volume of 6,196 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LGRDY. Barclays raised LeGrand from an “overweight” rating to an “overweight” rating in a research note on Monday, July 6th. Morgan Stanley reissued an “overweight” rating on shares of LeGrand in a research note on Friday. Citigroup restated a “buy” rating on shares of LeGrand in a report on Thursday, June 18th. Zacks Research raised LeGrand from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. Finally, Royal Bank Of Canada raised LeGrand from a “sector perform” rating to an “outperform” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

LeGrand Price Performance

The stock has a 50-day moving average of $31.96 and a two-hundred day moving average of $33.24. The firm has a market cap of $42.85 billion, a price-to-earnings ratio of 28.17, a price-to-earnings-growth ratio of 2.28 and a beta of 0.96. The company has a current ratio of 1.96, a quick ratio of 1.39 and a debt-to-equity ratio of 0.81.

LeGrand (OTCMKTS:LGRDY) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). LeGrand had a return on equity of 17.83% and a net margin of 13.01%.The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.18 billion. On average, analysts anticipate that LeGrand SA will post 1.41 EPS for the current year.

About LeGrand

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.