LeGrand (OTCMKTS:LGRDY) Stock Moved Up to "Strong-Buy" by The Goldman Sachs Group

Key Points

• Goldman Sachs upgraded LeGrand from “hold” to “strong buy,” while Evercore also issued a strong-buy rating. Overall, analysts’ consensus is “Moderate Buy,” with two strong-buy, five buy, and three hold ratings.
• LeGrand shares opened at $27.76, near the company’s 12-month low of $27.48 and below its 50-day and 200-day moving averages of $31.41 and $32.74, respectively.
• The company reported quarterly EPS of $0.32, missing the $0.36 consensus estimate, but revenue of $3.26 billion exceeded expectations of $3.18 billion. Analysts expect full-year EPS of $1.38.

LeGrand (OTCMKTS:LGRDY - Get Free Report) was upgraded by research analysts at The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a note issued to investors on Wednesday, Zacks reports.

Other research analysts have also recently issued reports about the company. Evercore raised LeGrand from a "hold" rating to a "strong-buy" rating in a report on Friday, October 2nd. Morgan Stanley restated an "overweight" rating on shares of LeGrand in a research note on Friday, August 28th. Zacks Research raised shares of LeGrand from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 5th. Barclays reaffirmed an "overweight" rating on shares of LeGrand in a report on Monday, October 5th. Finally, Royal Bank Of Canada upgraded shares of LeGrand from a "sector perform" rating to an "outperform" rating in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, LeGrand has a consensus rating of "Moderate Buy".

LeGrand Price Performance

OTCMKTS LGRDY opened at $27.76 on Wednesday. LeGrand has a 12 month low of $27.48 and a 12 month high of $37.91. The stock has a market cap of $36.40 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 1.61 and a beta of 0.99. The company's 50 day moving average is $31.41 and its two-hundred day moving average is $32.74. The company has a current ratio of 1.58, a quick ratio of 1.12 and a debt-to-equity ratio of 0.89.

LeGrand (OTCMKTS:LGRDY - Get Free Report) last announced 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%. As a group, research analysts anticipate that LeGrand will post 1.38 earnings per share 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.

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