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

Key Points

• Zacks Research upgraded LeGrand from “strong sell” to “hold,” while the broader analyst consensus remains “Moderate Buy,” based on one Strong Buy, three Buy, and six Hold ratings.
• LeGrand shares opened at $31.97, up 0.7%, with a market capitalization of approximately $41.92 billion and a 12-month trading range of $28.73 to $37.91.
• In its latest quarter, LeGrand reported revenue of $3.26 billion, ahead of estimates, but earnings per share of $0.32 fell short of the $0.36 analyst consensus.

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

Other analysts have also recently issued research reports about the company. Royal Bank Of Canada raised LeGrand from a "sector perform" rating to an "outperform" rating in a research report on Monday. Citigroup reaffirmed a "buy" rating on shares of LeGrand in a research report on Thursday, June 18th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of LeGrand in a research note on Tuesday, June 23rd. Evercore upgraded LeGrand to a "hold" rating in a report on Monday, April 13th. Finally, Barclays raised LeGrand from an "overweight" rating to an "overweight" rating in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, LeGrand has a consensus rating of "Moderate Buy".

LeGrand Stock Up 0.7%

LeGrand stock opened at $31.97 on Wednesday. LeGrand has a twelve month low of $28.73 and a twelve month high of $37.91. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.39 and a current ratio of 1.96. The firm has a market cap of $41.92 billion, a PE ratio of 27.56, a P/E/G ratio of 2.27 and a beta of 0.96. The firm's 50 day moving average price is $32.25 and its two-hundred day moving average price is $33.16.

LeGrand (OTCMKTS:LGRDY - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.04). LeGrand had a net margin of 13.01% and a return on equity of 17.83%. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.18 billion. On average, research analysts predict that LeGrand will post 1.41 EPS for the current fiscal 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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