LGN (NASDAQ:LGN) Sets New 1-Year High Following Analyst Upgrade

LGN (NASDAQ:LGN) shares reached a new 52-week high during trading on Thursday after BMO Capital Markets raised their price target on the stock from $63.00 to $100.00. BMO Capital Markets currently has an outperform rating on the stock. LGN traded as high as $107.24 and last traded at $95.6760, with a volume of 223738 shares. The stock had previously closed at $100.00.

Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus increased their price objective on LGN from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, March 31st. Zacks Research cut LGN from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Royal Bank Of Canada lifted their price objective on LGN from $48.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. The Goldman Sachs Group lifted their price objective on LGN from $63.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Finally, Guggenheim lifted their price objective on LGN from $53.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $80.90.

More LGN News

Here are the key news stories impacting LGN this week:

• Positive Sentiment: BMO Capital Markets raised its price target on Legence from $63 to $100 and reiterated an outperform rating, while BTIG lifted its target to $120 with a buy rating, signaling continued analyst confidence in the stock’s longer-term upside.
• Positive Sentiment: Legence reported record quarterly revenue of $1.04 billion, up 105% year over year, and record backlog and awards of $5.38 billion, suggesting demand remains strong and visibility is improving.
• Positive Sentiment: The company also raised full-year 2026 guidance for revenue and adjusted EBITDA, and set second-quarter revenue guidance above Wall Street expectations, which supports the growth narrative.
• Neutral Sentiment: Management’s Q1 earnings came in below consensus, with adjusted EPS of $0.13 versus the expected $0.19, even though revenue topped estimates.
• Negative Sentiment: Investors are reacting to margin compression, with consolidated gross margin falling year over year, which has raised concerns that profitability may not be scaling as quickly as revenue.
• Negative Sentiment: Some of the weakness also looks like a “sell-the-news” reaction after a strong pre-earnings run-up, as expectations had become elevated heading into the report.

Institutional Trading of LGN

Large investors have recently bought and sold shares of the company. Assetmark Inc. bought a new stake in shares of LGN in the 4th quarter worth approximately $31,000. KBC Group NV bought a new stake in shares of LGN in the 1st quarter worth approximately $66,000. Aster Capital Management DIFC Ltd bought a new stake in shares of LGN in the 4th quarter worth approximately $64,000. Kestra Advisory Services LLC bought a new stake in shares of LGN in the 4th quarter worth approximately $91,000. Finally, Clearstead Advisors LLC bought a new stake in shares of LGN in the 4th quarter worth approximately $140,000.

LGN Stock Performance

The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.03. The company has a 50-day moving average of $67.94. The company has a market capitalization of $9.11 billion and a PE ratio of -8,430.00.

LGN (NASDAQ:LGN) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The firm had revenue of $1.04 billion during the quarter. LGN’s quarterly revenue was up 105.2% compared to the same quarter last year. As a group, research analysts forecast that LGN will post 1.31 earnings per share for the current fiscal year.

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.