LeGrand SA (OTCMKTS:LGRDY) Shares Shorted: Short Interest Down 66.8% in October

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

LeGrand Price Performance

Shares of LGRDY traded up $0.45 during mid-day trading on Thursday, hitting $30.07. 143,292 shares of the stock were exchanged, compared to its average volume of 157,373. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.12 and a current ratio of 1.58. The company has a market cap of $39.42 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 1.52 and a beta of 0.99. LeGrand has a 52-week low of $27.32 and a 52-week high of $37.91. The firm has a 50-day moving average of $31.11 and a two-hundred day moving average of $32.50.

LeGrand (OTCMKTS:LGRDY) last released its earnings results on Wednesday, July 29th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.04). LeGrand had a net margin of 13.01% and a return on equity of 17.74%. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.18 billion. On average, equities analysts predict that LeGrand will post 1.38 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on LGRDY. Royal Bank Of Canada upgraded LeGrand from a “sector perform” rating to an “outperform” rating in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft raised LeGrand from a “hold” rating to a “buy” rating in a research note on Wednesday, September 2nd. Morgan Stanley reiterated an “overweight” rating on shares of LeGrand in a research report on Friday, August 28th. Zacks Research upgraded shares of LeGrand from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 5th. Finally, The Goldman Sachs Group upgraded LeGrand from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average 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.