LeGrand SA (OTCMKTS:LGRDY) Shares Shorted: Short Interest Down 66.8% in October

LeGrand SA (OTCMKTS:LGRDY) was the recipient of a large drop in short interest during the month of October. As of October 15th, there was short interest totaling 15,523 shares, a drop of 66.8% from the September 30th total of 46,757 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average daily volume of 282,769 shares, the days-to-cover ratio is presently 0.1 days.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on LGRDY shares. Royal Bank Of Canada raised shares of LeGrand from a “sector perform” rating to an “outperform” rating in a report on Monday, August 3rd. Morgan Stanley reissued an “overweight” rating on shares of LeGrand in a research note on Friday, August 28th. Evercore upgraded shares of LeGrand from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 2nd. Barclays restated an “overweight” rating on shares of LeGrand in a research report on Monday, October 5th. Finally, The Goldman Sachs Group raised shares of LeGrand from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

LeGrand Price Performance

OTCMKTS LGRDY opened at $30.07 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.12 and a debt-to-equity ratio of 0.89. LeGrand has a 1 year low of $27.32 and a 1 year high of $37.91. The company has a market cap of $39.43 billion, a PE ratio of 25.53, a PEG ratio of 1.63 and a beta of 0.99. The stock’s 50-day moving average price is $31.08 and its two-hundred day moving average price is $32.50.

LeGrand (OTCMKTS:LGRDY) last released its earnings results on Wednesday, July 29th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). LeGrand had a net margin of 13.01% and a return on equity of 17.74%. The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.18 billion. On average, analysts predict that LeGrand will post 1.38 EPS for the current year.

About LeGrand

Legrand SA is a France-based manufacturer of electrical and digital building infrastructure products. Its portfolio includes wiring devices, switches and sockets, circuit protection and power distribution equipment, cable management systems, lighting controls, and home and building automation solutions.

The company also provides infrastructure for data centers and communication networks, including connectivity, racks, power-management equipment, and uninterruptible power systems. Its products are used in residential, commercial, industrial, and institutional buildings.

Legrand traces its origins to a porcelain manufacturing business established in Limoges, France, in 1904, and later expanded into electrical equipment and building systems.