Short Interest in LeGrand SA (OTCMKTS:LGRDY) Declines By 39.2%

Key Points

• Short interest in LeGrand SA (OTCMKTS:LGRDY) dropped by 39.2% in September, falling to 32,000 shares from 52,600 shares at the end of August.
• Despite a missed earnings estimate of $0.26 per share against a consensus of $0.30, LeGrand reported revenues of $2.87 billion, exceeding expectations of $2.37 billion.
• Analysts currently hold a consensus rating of "Moderate Buy" on LeGrand shares, with three analysts rating it a Buy and two rating it a Hold.

LeGrand SA (OTCMKTS:LGRDY - Get Free Report) saw a significant decline in short interest in September. As of September 15th, there was short interest totaling 32,000 shares, a decline of 39.2% from the August 31st total of 52,600 shares. Based on an average daily volume of 155,100 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily volume of 155,100 shares, the days-to-cover ratio is presently 0.2 days.

Analyst Upgrades and Downgrades

Several research analysts have commented on LGRDY shares. Citigroup restated a "buy" rating on shares of LeGrand in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of LeGrand in a research note on Monday, August 4th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of LeGrand in a report on Monday, August 4th. Morgan Stanley reissued an "overweight" rating on shares of LeGrand in a report on Tuesday, July 1st. Finally, Kepler Capital Markets cut shares of LeGrand from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy".

LeGrand Price Performance

Shares of OTCMKTS LGRDY traded down $0.54 during mid-day trading on Friday, reaching $33.53. 74,738 shares of the company were exchanged, compared to its average volume of 67,336. LeGrand has a 52 week low of $18.85 and a 52 week high of $34.08. The company's 50 day moving average price is $31.31 and its 200 day moving average price is $26.51. The stock has a market capitalization of $44.26 billion, a PE ratio of 34.43, a PEG ratio of 2.16 and a beta of 0.78. The company has a quick ratio of 1.45, a current ratio of 1.94 and a debt-to-equity ratio of 0.63.

LeGrand (OTCMKTS:LGRDY - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.04). The firm had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.37 billion. LeGrand had a return on equity of 16.31% and a net margin of 17.13%. Sell-side analysts forecast that LeGrand will post 1.08 earnings per share for the current fiscal year.

LeGrand Company Profile

Legrand SA, together with its subsidiaries, manufactures, distributes, and sells electrical and digital building infrastructures in Europe, North and Central America, and internationally. The company offers energy distribution, protection, and management solutions, such as electric vehicle charging, residential and small commercial panels, switchboards and power cabinets, and UPS devices; and wiring devices, connected home and building control solutions, and guestroom solutions, as well as back, junction, DCL, and floor boxes.

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