LeGrand (OTCMKTS:LGRDY) Stock Rating Raised to "Strong-Buy" at Evercore

Key Points

• Evercore upgraded LeGrand from “hold” to “strong buy,” while the broader analyst consensus remains “moderate buy.” Two analysts rate the stock Strong Buy, five rate it Buy, and four rate it Hold.
• LeGrand shares opened at $32.58, with a 52-week range of $28.73 to $37.91 and a market capitalization of approximately $42.72 billion.
• The company’s latest quarterly results were mixed: adjusted EPS of $0.32 missed estimates of $0.36, but revenue of $3.26 billion exceeded the $3.18 billion consensus forecast.

LeGrand (OTCMKTS:LGRDY - Get Free Report) was upgraded by stock analysts at Evercore from a "hold" rating to a "strong-buy" rating in a report released on Friday, Zacks reports.

LGRDY has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft raised shares of LeGrand from a "hold" rating to a "buy" rating in a research report on Wednesday, September 2nd. Morgan Stanley reaffirmed an "overweight" rating on shares of LeGrand in a research note on Friday, August 28th. Zacks Research upgraded LeGrand from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 5th. Barclays raised LeGrand from an "overweight" rating to an "overweight" rating in a research note on Monday, July 6th. Finally, Citigroup restated a "buy" rating on shares of LeGrand in a report on Thursday, June 18th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, LeGrand currently has a consensus rating of "Moderate Buy".

LeGrand Price Performance

Shares of LGRDY opened at $32.58 on Friday. The stock has a 50 day simple moving average of $31.66 and a 200 day simple moving average of $32.80. LeGrand has a 52-week low of $28.73 and a 52-week high of $37.91. 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 firm has a market capitalization of $42.72 billion, a PE ratio of 28.09, a P/E/G ratio of 1.72 and a beta of 0.99.

LeGrand (OTCMKTS:LGRDY - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.04). LeGrand had a return on equity of 17.74% 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. Sell-side analysts predict that LeGrand will post 1.4 EPS for the current fiscal year.

About LeGrand

Legrand SA is a France-based specialist in electrical and digital building infrastructure. The company designs, manufactures and distributes products and systems used to manage, distribute and control electricity and data in residential, commercial, industrial and infrastructure environments.

Its product portfolio includes wiring devices, electrical and digital protection equipment, power distribution systems, cable management, structured cabling, lighting control, home automation and connected-building solutions.

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