Rexel (OTCMKTS:RXEEY) Share Price Crosses Below 50-Day Moving Average – Here’s What Happened

Rexel S.A. (OTCMKTS:RXEEY) shares passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $41.86 and traded as low as $38.99. Rexel shares last traded at $40.21, with a volume of 14,248 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on RXEEY shares. Morgan Stanley reissued an “overweight” rating on shares of Rexel in a research note on Monday, December 8th. Citigroup reiterated a “buy” rating on shares of Rexel in a research report on Friday, February 6th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Rexel presently has an average rating of “Moderate Buy”.

Rexel Stock Down 5.8%

The firm has a 50 day moving average of $41.86 and a 200-day moving average of $37.13.

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.