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

Rexel S.A. (OTCMKTS:RXEEY) shares gapped down before the market opened 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 trading hands.

Analyst Ratings Changes

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

Rexel Price Performance

The business has a 50-day moving average of $43.08 and a 200 day moving average of $42.19. The company has a market cap of $11.76 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.