Logitech International SA Lifted to “Buy” at TheStreet (LOGI)
Logitech International SA (NASDAQ:LOGI) traded up 1.83% during mid-day trading on Wednesday, hitting $13.89. 268,436 shares of the company’s stock traded hands. Logitech International SA has a one year low of $7.77 and a one year high of $16.88. The stock’s 50-day moving average is $14.02 and its 200-day moving average is $14.10. The company has a market cap of $2.264 billion and a price-to-earnings ratio of 23.60. Logitech International SA also was the target of a significant increase in short interest during the month of August. As of August 15th, there was short interest totalling 20,368,639 shares, an increase of 11.8% from the July 31st total of 18,215,224 shares. Currently, 13.7% of the shares of the company are sold short. Based on an average daily trading volume, of 660,906 shares, the short-interest ratio is currently 30.8 days.
Logitech International SA (NASDAQ:LOGI) last announced its earnings results on Thursday, July 24th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.15. The company had revenue of $484.00 million for the quarter, compared to the consensus estimate of $476.95 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. Analysts expect that Logitech International SA will post $0.87 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated an “outperform” rating on shares of Logitech International SA in a research note on Thursday, July 31st. They now have a $18.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. upgraded shares of Logitech International SA from an “underweight” rating to a “neutral” rating in a research note on Friday, July 25th. They now have a $15.00 price target on the stock, up previously from $13.50. Finally, analysts at Vontobel upgraded shares of Logitech International SA from a “hold” rating to a “buy” rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $16.50.
Logitech International SA (NASDAQ:LOGI) is a Switzerland-based company that, together with its subsidiaries, develops and markets hardware and software products that enable or enhance digital navigation, music and video entertainment, gaming, social networking, and audio and video communication over the Internet.
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