LeGrand SA (OTCMKTS:LGRDY) Short Interest Update

Key Points

• Short interest in LeGrand surged in June, rising 3,541% to 127,837 shares as of June 30 from 3,511 shares two weeks earlier. Despite the jump, short interest remains very low relative to trading volume, with only about 0.0% of shares short sold.
• Analyst sentiment is mixed, but the stock’s average rating remains “Hold”. Recent moves included Zacks cutting LeGrand to strong sell, while other firms reiterated or maintained hold/buy views.
• LeGrand shares recently fell to $32.02, near their 200-day moving average, after the company reported quarterly EPS of $0.30, slightly missing expectations. Revenue came in above estimates at $2.99 billion, and analysts currently expect full-year EPS of 1.4.

LeGrand SA (OTCMKTS:LGRDY - Get Free Report) was the target of a large increase in short interest in June. As of June 30th, there was short interest totaling 127,837 shares, an increase of 3,541.0% from the June 15th total of 3,511 shares. Based on an average daily trading volume, of 954,455 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

LGRDY has been the topic of several recent analyst reports. Zacks Research lowered LeGrand from a "hold" rating to a "strong sell" rating in a research note on Tuesday. Evercore upgraded LeGrand to a "hold" rating in a research note on Monday, April 13th. Barclays raised LeGrand from an "overweight" rating to an "overweight" rating in a report on Monday. Citigroup restated a "buy" rating on shares of LeGrand in a research note on Thursday, June 18th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of LeGrand in a report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold".

LeGrand Price Performance

Shares of LGRDY traded down $0.30 on Friday, hitting $32.02. The company's stock had a trading volume of 51,011 shares, compared to its average volume of 369,429. The company has a market capitalization of $41.99 billion, a PE ratio of 29.11, a PEG ratio of 2.53 and a beta of 0.95. LeGrand has a fifty-two week low of $25.96 and a fifty-two week high of $37.91. The company has a 50 day moving average price of $34.08 and a 200 day moving average price of $32.97. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.96 and a quick ratio of 1.39.

LeGrand (OTCMKTS:LGRDY - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.01). LeGrand had a net margin of 13.29% and a return on equity of 16.89%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.90 billion. On average, research analysts anticipate that LeGrand will post 1.4 earnings per share for the current fiscal year.

LeGrand Company Profile

Legrand OTCMKTS: LGRDY is a French multinational that designs, manufactures and distributes electrical and digital building infrastructure solutions. The company's product portfolio spans wiring devices such as switches and outlets, cable management and trunking systems, power distribution and protection equipment, lighting control and energy management systems, as well as solutions for data centers and building automation. Its offerings are positioned for new construction and retrofit projects in residential, commercial, industrial and institutional buildings.

Legrand supplies both branded products and integrated systems to electrical contractors, distributors, installers and original equipment manufacturers.

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