LGN (NASDAQ:LGN) Given New $60.00 Price Target at Barclays

LGN (NASDAQ:LGN) had its target price upped by equities researchers at Barclays from $45.00 to $60.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target points to a potential downside of 25.08% from the company’s previous close.

A number of other equities analysts have also recently issued reports on LGN. Stifel Nicolaus boosted their price objective on LGN from $58.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, March 31st. Guggenheim boosted their target price 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. Tigress Financial upped their price target on shares of LGN from $60.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Zacks Research downgraded shares of LGN from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, Royal Bank Of Canada lifted their price objective on shares of LGN from $48.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.40.

LGN Trading Down 5.0%

LGN stock opened at $80.08 on Tuesday. The business has a 50 day moving average price of $68.53. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.06. The stock has a market cap of $8.65 billion and a price-to-earnings ratio of -8,008.30. LGN has a 12-month low of $26.96 and a 12-month high of $107.24.

LGN (NASDAQ:LGN) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The business had revenue of $1.04 billion for the quarter. The company’s revenue was up 105.2% compared to the same quarter last year. On average, analysts predict that LGN will post 1.29 EPS for the current year.

Institutional Investors Weigh In On LGN

Several hedge funds have recently made changes to their positions in LGN. Assetmark Inc. purchased a new position in shares of LGN during the fourth quarter valued at $31,000. Aster Capital Management DIFC Ltd purchased a new stake in LGN in the fourth quarter worth about $64,000. KBC Group NV purchased a new stake in LGN in the first quarter worth about $66,000. Kestra Advisory Services LLC bought a new position in LGN during the 4th quarter worth about $91,000. Finally, Clearstead Advisors LLC purchased a new position in LGN during the 4th quarter valued at about $140,000.

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.