LeGrand (OTCMKTS:LGRDY) Shares Gap Up - Time to Buy?

Key Points

• LeGrand shares opened higher at $32.91 versus the prior close of $31.76, later trading at $32.76 on volume of 6,196 shares.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating; recent actions included upgrades from Zacks Research and Royal Bank of Canada.
• LeGrand’s latest quarter showed mixed results: earnings per share of $0.32 missed the $0.36 consensus estimate, while revenue of $3.26 billion exceeded expectations of $3.18 billion.

LeGrand SA (OTCMKTS:LGRDY - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $31.76, but opened at $32.91. LeGrand shares last traded at $32.76, with a volume of 6,196 shares changing hands.

Analysts Set New Price Targets

Several analysts have issued reports on LGRDY shares. Morgan Stanley restated an "overweight" rating on shares of LeGrand in a research note on Friday. Zacks Research upgraded shares of LeGrand from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 5th. Barclays raised shares of LeGrand from an "overweight" rating to an "overweight" rating in a report on Monday, July 6th. Royal Bank Of Canada upgraded LeGrand from a "sector perform" rating to an "outperform" rating in a research note on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of LeGrand in a report on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, LeGrand has a consensus rating of "Moderate Buy".

LeGrand Stock Performance

The company has a market cap of $42.85 billion, a P/E ratio of 28.17, a PEG ratio of 2.28 and a beta of 0.96. The company has a quick ratio of 1.39, a current ratio of 1.96 and a debt-to-equity ratio of 0.81. The company has a 50 day moving average price of $31.96 and a 200-day moving average price of $33.24.

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

LeGrand Company Profile

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