Barclays May Have Just Lost Faith in Electrolux (OTCMKTS:ELUXY)


Electrolux (OTCMKTS:ELUXY) Receives a Downgrade

Barclays lowered the rating for shares of Electrolux (OTCMKTS:ELUXY) to a”Underweight” from a “Equal Weight”. This rating change was revealed to investors in recent note earlier today.

Approximately 4,292 shares of stock traded hands. Electrolux AB (ADR) (OTCMKTS:ELUXY) has declined 18.75% since May 6, 2015 and is downtrending. It has underperformed by 17.95% the S&P500.

Barclays May Have Just Lost Faith in Electrolux (OTCMKTS:ELUXY)

Electrolux AB is a Sweden-based company engaged in producing home appliances. The company has a market cap of $7.24 billion. The Firm operates through two business areas: consumer durables, which includes its five divisions: Major Appliances Europe, Middle East and Africa, Major Appliances North America, Major Appliances Latin America, Major Appliances Asia/ Pacific, and Small Appliances, and professional products business, which includes the Company’s Professional Products segment. It has 19.82 P/E ratio. The products within major appliances include refrigerators, freezers, cookers, dryers, washing machines, dishwashers, room air-conditioners and microwave ovens.

According to Zacks Investment Research, “Electrolux AB manufactures appliances and outdoor and industrial products. The Company produces household and commercial appliances, vacuum cleaners and other floor care machines, sewing machines, chain saws, lawn mowers, weed eaters, aluminum extrusions, conveyor systems and archive systems and recycles scrap metals and waste paper. Products are sold in Europe, North America and Asia.” Get a free copy of the Zacks research report on Electrolux AB (ADR) (ELUXY).