LeGrand SA (OTCMKTS:LGRDY) Sees Large Drop in Short Interest

LeGrand SA (OTCMKTS:LGRDY) was the target of a large decline in short interest in the month of June. As of June 15th, there was short interest totaling 3,511 shares, a decline of 95.4% from the May 31st total of 76,660 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 418,516 shares, the days-to-cover ratio is currently 0.0 days.

LeGrand Stock Performance

LGRDY traded up $0.46 on Thursday, reaching $33.69. The stock had a trading volume of 223,155 shares, compared to its average volume of 326,994. The business’s 50-day moving average price is $34.61 and its two-hundred day moving average price is $32.75. The company has a market cap of $44.18 billion, a P/E ratio of 30.21, a price-to-earnings-growth ratio of 2.60 and a beta of 0.96. LeGrand has a 12-month low of $25.32 and a 12-month high of $37.91. 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 (OTCMKTS:LGRDY) last posted its earnings results on Thursday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.01). LeGrand had a return on equity of 16.89% and a net margin of 13.29%.The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.90 billion. Sell-side analysts forecast that LeGrand will post 1.41 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the company. Citigroup reaffirmed a “buy” rating on shares of LeGrand in a report on Thursday, June 18th. Evercore raised LeGrand to a “hold” rating in a report on Monday, April 13th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of LeGrand in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, LeGrand currently has a consensus rating of “Hold”.

About LeGrand

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.