Rexel (OTCMKTS:RXEEY) Stock Price Down 10.9% – Here’s What Happened

Rexel S.A. (OTCMKTS:RXEEY) shares were down 10.9% during trading on Wednesday . The company traded as low as $39.5820 and last traded at $39.65. 5,331 shares traded hands during trading, a decline of 69% from the average daily volume of 17,102 shares. The stock had previously closed at $44.50.

Analyst Ratings Changes

Several research firms recently weighed in on RXEEY. Morgan Stanley reaffirmed an “overweight” rating on shares of Rexel in a report on Monday, June 29th. Jefferies Financial Group raised shares of Rexel from a “hold” rating to a “buy” rating in a research note on Wednesday, April 8th. Finally, Zacks Research upgraded shares of Rexel to a “hold” rating in a research report on Tuesday, June 9th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Rexel Stock Down 3.3%

The company has a 50 day moving average of $43.12 and a two-hundred day moving average of $42.18. The firm has a market cap of $11.73 billion and a P/E ratio of 54.80.

About Rexel

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.