Short Interest in LeGrand SA (OTCMKTS:LGRDY) Rises By 987.4%

Key Points

• Short interest surged 987.4% in LeGrand during the second half of August, reaching 91,982 shares. Despite the sharp increase, short interest represents approximately 0.0% of shares outstanding, with a days-to-cover ratio of 0.5.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating from MarketBeat. The coverage includes one Strong Buy, five Buy, and five Hold ratings.
• LeGrand shares recently traded at $32.29, within a 12-month range of $28.73 to $37.91. In its latest quarter, the company missed EPS estimates but exceeded revenue expectations, reporting $3.26 billion in revenue.

LeGrand SA (OTCMKTS:LGRDY - Get Free Report) saw a significant growth in short interest in August. As of August 31st, there was short interest totaling 91,982 shares, a growth of 987.4% from the August 15th total of 8,459 shares. Based on an average daily trading volume, of 181,465 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

LGRDY has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised shares of LeGrand from a "hold" rating to a "buy" rating in a research report on Wednesday, September 2nd. Barclays upgraded shares of LeGrand from an "overweight" rating to an "overweight" rating in a research report on Monday, July 6th. Zacks Research raised shares of LeGrand from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 5th. Citigroup reiterated a "buy" rating on shares of LeGrand in a research note on Thursday, June 18th. Finally, Morgan Stanley reissued an "overweight" rating on shares of LeGrand in a research report on Friday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy".

LeGrand Price Performance

LeGrand stock traded down $0.28 during trading hours on Thursday, reaching $32.29. 177,308 shares of the stock were exchanged, compared to its average volume of 110,665. The company has a market cap of $42.34 billion, a P/E ratio of 27.84, a price-to-earnings-growth ratio of 1.80 and a beta of 0.96. 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 twelve month low of $28.73 and a twelve month high of $37.91. The stock has a 50 day moving average of $31.70 and a two-hundred day moving average of $33.03.

LeGrand (OTCMKTS:LGRDY - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.04). The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.18 billion. LeGrand had a net margin of 13.01% and a return on equity of 17.74%. Equities analysts expect that LeGrand will post 1.41 EPS for the current fiscal year.

About LeGrand

Legrand SA is a France-based specialist in electrical and digital building infrastructure. The company develops, manufactures and markets equipment used to distribute, control, protect and manage electricity and data in residential, commercial, industrial and infrastructure environments.

Its product portfolio includes wiring devices such as switches and sockets, electrical protection and distribution systems, cable management solutions, connected-home and building-automation products, and systems for data centers and other digital infrastructure applications.

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