LeGrand (OTCMKTS:LGRDY) Sees Strong Trading Volume - Time to Buy?

Key Points

• LeGrand shares traded at $31.79 on volume of 118,049 shares, down 22% from the prior session.
• Analyst sentiment is broadly positive: LeGrand holds a “Moderate Buy” consensus rating, with recent upgrades from Deutsche Bank and RBC.
• The company exceeded revenue expectations with $3.26 billion in quarterly sales but missed earnings estimates, reporting $0.32 per share versus the $0.36 consensus.

LeGrand SA (OTCMKTS:LGRDY - Get Free Report) saw strong trading volume on Thursday . 118,049 shares changed hands during trading, a decline of 22% from the previous session's volume of 152,251 shares.The stock last traded at $31.79 and had previously closed at $31.47.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Citigroup reissued a "buy" rating on shares of LeGrand in a research note on Thursday, June 18th. Deutsche Bank Aktiengesellschaft raised LeGrand from a "hold" rating to a "buy" rating in a report on Wednesday. Royal Bank Of Canada raised shares of LeGrand from a "sector perform" rating to an "outperform" rating in a research report on Monday, August 3rd. Barclays upgraded shares of LeGrand from an "overweight" rating to an "overweight" rating in a research note on Monday, July 6th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of LeGrand in a research report on Friday, August 28th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, LeGrand currently has an average rating of "Moderate Buy".

LeGrand Stock Performance

The company has a debt-to-equity ratio of 0.89, a current ratio of 1.58 and a quick ratio of 1.39. The company has a market cap of $41.50 billion, a P/E ratio of 27.28, a P/E/G ratio of 2.22 and a beta of 0.96. The business has a 50-day moving average of $31.76 and a two-hundred day moving average of $33.16.

LeGrand (OTCMKTS:LGRDY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.32 earnings per share 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 business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.18 billion. On average, sell-side analysts predict that LeGrand SA 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source