Posted by admin on May 26th, 2022
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.
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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