LeGrand SA (OTCMKTS:LGRDY) Short Interest Up 184.3% in August

Key Points

• Short interest surged 184.3% in August to 8,459 shares from 2,975 shares, though short positions still represent 0.0% of shares outstanding and only 0.0 days of average trading volume.
• LeGrand shares were down 0.7% at $31.76, with the stock trading below its 50-day and 200-day moving averages. The company’s latest quarterly earnings missed estimates, reporting $0.32 EPS versus the $0.36 consensus, while revenue exceeded expectations at $3.26 billion.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy”; Royal Bank of Canada upgraded the stock to “outperform,” while other firms maintained buy or hold ratings.

LeGrand SA (OTCMKTS:LGRDY - Get Free Report) saw a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 8,459 shares, an increase of 184.3% from the July 30th total of 2,975 shares. Currently, 0.0% of the company's shares are sold short. Based on an average daily volume of 193,508 shares, the short-interest ratio is presently 0.0 days.

LeGrand Trading Down 0.7%

OTCMKTS LGRDY opened at $31.76 on Friday. The firm has a market capitalization of $41.64 billion, a PE ratio of 27.38, a price-to-earnings-growth ratio of 2.28 and a beta of 0.96. The business's 50-day moving average price is $31.96 and its two-hundred day moving average price is $33.24. The company has a current ratio of 1.96, a quick ratio of 1.39 and a debt-to-equity ratio of 0.81. LeGrand has a 12 month low of $28.73 and a 12 month high of $37.91.

LeGrand (OTCMKTS:LGRDY - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.04). The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.18 billion. LeGrand had a net margin of 13.01% and a return on equity of 17.83%. On average, analysts expect that LeGrand will post 1.41 EPS for the current year.

Analysts Set New Price Targets

LGRDY has been the subject of several recent research reports. Citigroup reaffirmed a "buy" rating on shares of LeGrand in a research note on Thursday, June 18th. Royal Bank Of Canada upgraded shares of LeGrand from a "sector perform" rating to an "outperform" rating in a research report on Monday, August 3rd. Barclays raised shares of LeGrand from an "overweight" rating to an "overweight" rating in a report on Monday, July 6th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of LeGrand in a research report on Tuesday, June 23rd. Finally, Zacks Research raised shares of LeGrand from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy".

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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