LGN (NASDAQ:LGN) Price Target Raised to $64.00

LGN (NASDAQ:LGN) had its target price increased by Royal Bank Of Canada from $48.00 to $64.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities analysts also recently issued reports on LGN. Barclays lifted their price objective on shares of LGN from $37.00 to $45.00 and gave the stock an “equal weight” rating in a report on Friday, January 23rd. BTIG Research raised their price target on shares of LGN from $45.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, March 27th. Tigress Financial restated a “buy” rating and set a $60.00 price target on shares of LGN in a report on Friday, March 27th. Zacks Research downgraded shares of LGN from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, Guggenheim increased their price objective on shares of LGN from $53.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, March 26th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.25.

LGN Stock Performance

LGN stock opened at $59.60 on Monday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.57 and a current ratio of 1.57. LGN has a twelve month low of $26.96 and a twelve month high of $60.50. The firm has a 50 day moving average of $51.66.

LGN (NASDAQ:LGN) last announced its quarterly earnings results on Friday, March 27th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.60). The company had revenue of $737.64 million during the quarter, compared to analyst estimates of $616.05 million. The firm’s quarterly revenue was up 34.5% on a year-over-year basis.

Hedge Funds Weigh In On LGN

Several institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC grew its holdings in LGN by 128.4% during the fourth quarter. Janus Henderson Group PLC now owns 4,401,402 shares of the company’s stock valued at $189,442,000 after purchasing an additional 2,474,220 shares during the period. Westfield Capital Management Co. LP bought a new stake in shares of LGN in the fourth quarter valued at $69,438,000. Vanguard Group Inc. raised its stake in shares of LGN by 78.1% in the fourth quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company’s stock valued at $138,919,000 after buying an additional 1,415,282 shares during the period. Munro Partners lifted its position in shares of LGN by 1,875.9% during the 4th quarter. Munro Partners now owns 1,396,642 shares of the company’s stock valued at $60,111,000 after buying an additional 1,325,957 shares during the last quarter. Finally, CI Investments Inc. lifted its position in shares of LGN by 2,209.7% during the 4th quarter. CI Investments Inc. now owns 788,287 shares of the company’s stock valued at $33,928,000 after buying an additional 754,157 shares during the last quarter.

LGN Company Profile

Legence Corp. is a provider of engineering, consulting, installation and maintenance services for mission-critical systems in buildings. The company specializes in designing, fabricating and installing complex HVAC, process piping and other mechanical, electrical and plumbing systems. Legence Corp. is based in SAN JOSE, Calif.