Rexel (OTCMKTS:RXEEY) Shares Gap Down – Here’s What Happened

Rexel S.A. (OTCMKTS:RXEEY)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $44.50, but opened at $40.00. Rexel shares last traded at $39.88, with a volume of 3,532 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have commented on RXEEY shares. Morgan Stanley restated an “overweight” rating on shares of Rexel in a research note on Monday, June 29th. Zacks Research upgraded shares of Rexel to a “hold” rating in a report on Tuesday, June 9th. Finally, Jefferies Financial Group upgraded shares of Rexel from a “hold” rating to a “buy” rating in a research note on Wednesday, April 8th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Rexel Price Performance

The business has a fifty day moving average of $43.12 and a 200 day moving average of $42.18. The stock has a market cap of $11.96 billion and a PE ratio of 54.80.

Rexel Company Profile

Rexel is a global distributor specializing in electrical supplies and services for residential, commercial and industrial markets. The company’s product portfolio includes wiring, lighting, automation and control systems, energy management solutions, safety equipment and renewable energy products. Rexel supports its customers with technical expertise, digital tools and value-added services such as inventory management, project management and on-site support.

Headquartered in Paris, France, Rexel operates in more than 25 countries across Europe, North America, Asia-Pacific and Latin America.