LeGrand SA (OTCMKTS:LGRDY) Stock Short Interest Declines 66.8%

Key Points

• Short interest fell 66.8% to 15,523 shares as of October 15, representing virtually none of LeGrand’s outstanding shares and a days-to-cover ratio of 0.1.
• LeGrand shares rose 1.5% to $30.07, while the company reported quarterly revenue of $3.26 billion but earnings per share of $0.32, below analysts’ $0.36 estimate.
• Analyst sentiment is broadly positive: LeGrand holds a consensus “Moderate Buy” rating, with several firms recently upgrading the stock to Buy or Strong Buy.

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

LeGrand Stock Up 1.5%

LGRDY traded up $0.45 during trading on Thursday, reaching $30.07. The stock had a trading volume of 143,292 shares, compared to its average volume of 157,373. The company has a current ratio of 1.58, a quick ratio of 1.12 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $39.42 billion, a price-to-earnings ratio of 25.92, a P/E/G ratio of 1.52 and a beta of 0.99. The stock's 50 day moving average is $31.11 and its two-hundred day moving average is $32.50. LeGrand has a one year low of $27.32 and a one year 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). LeGrand had a return on equity of 17.74% and a net margin of 13.01%. The business had revenue of $3.26 billion during the quarter, compared to analysts' expectations of $3.18 billion. As a group, analysts expect that LeGrand will post 1.38 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Royal Bank Of Canada upgraded shares of LeGrand from a "sector perform" rating to an "outperform" rating in a report on Monday, August 3rd. Barclays reiterated an "overweight" rating on shares of LeGrand in a report on Monday, October 5th. Evercore raised LeGrand from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 2nd. Zacks Research upgraded shares of LeGrand from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 5th. Finally, The Goldman Sachs Group raised shares of LeGrand from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, LeGrand currently has a consensus rating of "Moderate Buy".

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.