LGN (NASDAQ:LGN) Coverage Initiated by Analysts at Glj Research

Glj Research initiated coverage on shares of LGN (NASDAQ:LGN) in a report released on Tuesday,Benzinga reports. The firm set a “buy” rating and a $99.00 price target on the stock. Glj Research’s price target points to a potential upside of 30.13% from the company’s previous close.

Other analysts have also issued reports about the stock. BTIG Research boosted their price objective on shares of LGN from $45.00 to $75.00 and gave the company a “buy” rating in a report on Friday, March 27th. Weiss Ratings assumed coverage on shares of LGN in a report on Wednesday, January 14th. They issued a “sell (d+)” rating on the stock. Stifel Nicolaus boosted their price target on shares of LGN from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. BMO Capital Markets boosted their price target on shares of LGN from $46.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Finally, Zacks Research lowered shares of LGN from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $70.11.

LGN Trading Up 3.1%

Shares of LGN opened at $76.08 on Tuesday. The stock has a market cap of $8.22 billion and a price-to-earnings ratio of -7,608.00. LGN has a 12-month low of $26.96 and a 12-month high of $76.32. The firm has a 50-day moving average of $55.48. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.57 and a current ratio of 1.57.

LGN (NASDAQ:LGN) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $616.05 million. The business’s revenue for the quarter was up 34.5% compared to the same quarter last year. Equities research analysts forecast that LGN will post 1.31 earnings per share for the current year.

Institutional Trading of LGN

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

About LGN

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.