Legrand SA (OTCMKTS:LGRDY) Short Interest Update

Legrand SA (OTCMKTS:LGRDY – Get Rating) was the target of a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 27,900 shares, an increase of 224.4% from the April 30th total of 8,600 shares. Based on an average daily trading volume, of 713,900 shares, the days-to-cover ratio is currently 0.0 days.

Shares of OTCMKTS LGRDY traded up $0.24 during midday trading on Thursday, hitting $17.26. The stock had a trading volume of 131,097 shares, compared to its average volume of 154,514. The company’s 50-day simple moving average is $17.90 and its 200 day simple moving average is $20.01. Legrand has a fifty-two week low of $16.01 and a fifty-two week high of $23.59.

The firm also recently announced a dividend, which will be paid on Thursday, June 16th. Shareholders of record on Friday, May 27th will be issued a dividend of $0.2465 per share. The ex-dividend date is Thursday, May 26th. This represents a yield of 1.48%.

Several analysts have recently weighed in on the company. Morgan Stanley cut their price objective on Legrand from €94.00 ($100.00) to €90.00 ($95.74) in a report on Tuesday, May 17th. The Goldman Sachs Group lowered Legrand from a “buy” rating to a “neutral” rating in a research report on Friday, March 25th. Societe Generale upped their target price on Legrand from €95.00 ($101.06) to €100.00 ($106.38) and gave the stock a “buy” rating in a research report on Friday, May 6th. Barclays decreased their price target on Legrand from €120.00 ($127.66) to €115.00 ($122.34) and set an “overweight” rating for the company in a research note on Monday, April 4th. Finally, Jefferies Financial Group upgraded Legrand from a “hold” rating to a “buy” rating in a research note on Thursday, January 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Legrand presently has a consensus rating of “Hold” and a consensus price target of $108.83.

About Legrand (Get Rating)

Legrand SA, together with its subsidiaries, provides electrical and digital building infrastructures worldwide. The company offers MCBs, RCDs, and din rail equipment, including residual current circuit breakers, RCBOs, add-on modules and accessories, surge protective devices, other control and signaling devices, and time and light-sensitive switches, as well as dimmers, relays, transformers, power supplies, and accessories; ACBs, MCCBs, head equipment, and busbar systems; enclosures and accessories; equipment and accessories; home network, home automation, and hotel equipment; wiring accessories; weatherproof wiring accessories and other installation equipment; lighting management, emergency lighting, access control, and safety equipment; UPS and LCS products, cable management systems, equipment, and accessories; and mosaic wiring accessories.

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