Kering SA (OTCMKTS:PPRUY) Short Interest Down 32.3% in September

Key Points

• Kering SA experienced a significant decrease in short interest of 32.3% in September, dropping from 90,800 shares to 61,500 shares as of September 30th.
• Multiple analysts have revised their ratings on Kering, with HSBC upgrading to a "strong buy" and Morgan Stanley moving from "equal weight" to "overweight."
• The company's stock rose 2.8%, reaching $39.93, with a 12-month trading range between $17.02 and $40.70.

Kering SA (OTCMKTS:PPRUY - Get Free Report) was the recipient of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totaling 61,500 shares, a decrease of 32.3% from the September 15th total of 90,800 shares. Based on an average daily trading volume, of 208,900 shares, the short-interest ratio is currently 0.3 days. Based on an average daily trading volume, of 208,900 shares, the short-interest ratio is currently 0.3 days.

Analysts Set New Price Targets

Several equities research analysts have commented on PPRUY shares. HSBC upgraded Kering to a "buy" rating in a research report on Tuesday, September 2nd. Barclays restated an "underweight" rating on shares of Kering in a research report on Tuesday, October 7th. Berenberg Bank restated a "sell" rating on shares of Kering in a research report on Thursday, October 16th. Hsbc Global Res upgraded Kering to a "strong-buy" rating in a research report on Tuesday, September 2nd. Finally, Morgan Stanley upgraded Kering from an "equal weight" rating to an "overweight" rating in a research report on Monday, October 6th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold".

Kering Stock Up 2.8%

OTCMKTS PPRUY traded up $1.09 during mid-day trading on Thursday, hitting $39.93. The stock had a trading volume of 240,734 shares, compared to its average volume of 291,259. The firm's 50 day moving average is $30.91 and its 200 day moving average is $24.59. Kering has a twelve month low of $17.02 and a twelve month high of $40.70. The company has a quick ratio of 0.87, a current ratio of 1.32 and a debt-to-equity ratio of 0.69.

Kering Company Profile

Kering SA manages the development of a series of renowned houses in fashion, leather goods and jewelry in France, the Asia-Pacific, Western Europe, North America, Japan, and internationally. The company offers ready-to-wear products apparel and accessories for men and women. It also offers leather goods and shoes; watches and jewelry; eyewear products; and fragrances and cosmetics.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.