LeGrand (OTCMKTS:LGRDY) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded LeGrand from a “hold” to a “strong sell,” marking the most bearish recent analyst call in the article.
• Despite the downgrade, the overall analyst consensus remains “Hold”, with a mix of one Strong Buy, two Buy, six Hold, and one Sell ratings.
• LeGrand reported mixed quarterly results: EPS of $0.30 missed estimates by $0.01, while revenue of $2.99 billion came in above expectations. The stock last traded at $32.79, with shares near the middle of their 52-week range.

LeGrand (OTCMKTS:LGRDY - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other equities analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of LeGrand in a research report on Tuesday, June 23rd. Barclays upgraded LeGrand from an "overweight" rating to an "overweight" rating in a report on Monday. Evercore raised shares of LeGrand to a "hold" rating in a research report on Monday, April 13th. Finally, Citigroup restated a "buy" rating on shares of LeGrand in a research report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold".

LeGrand Stock Performance

Shares of LeGrand stock opened at $32.79 on Tuesday. The company has a quick ratio of 1.39, a current ratio of 1.96 and a debt-to-equity ratio of 0.81. LeGrand has a twelve month low of $25.96 and a twelve month high of $37.91. The stock has a market cap of $43.00 billion, a price-to-earnings ratio of 29.81, a P/E/G ratio of 2.54 and a beta of 0.95. The company's fifty day moving average is $34.19 and its 200 day moving average is $32.95.

LeGrand (OTCMKTS:LGRDY - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.01). The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.90 billion. LeGrand had a return on equity of 16.89% and a net margin of 13.29%. Sell-side analysts forecast that LeGrand will post 1.4 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.

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