Guggenheim Increases LGN (NASDAQ:LGN) Price Target to $115.00

LGN (NASDAQ:LGN) had its price objective upped by Guggenheim from $106.00 to $115.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s target price would suggest a potential upside of 55.47% from the company’s previous close.

Several other analysts have also commented on LGN. Loop Capital started coverage on LGN in a report on Wednesday, April 29th. They set a “buy” rating and a $96.00 target price on the stock. Zacks Research downgraded LGN from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. The Goldman Sachs Group upped their price objective on LGN from $63.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LGN in a research note on Friday, June 26th. Finally, Glj Research initiated coverage on shares of LGN in a research note on Tuesday, April 21st. They set a “buy” rating and a $99.00 price objective on the stock. One 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 given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.10.

LGN Stock Performance

NASDAQ:LGN opened at $73.97 on Friday. The firm has a fifty day simple moving average of $85.09. The stock has a market capitalization of $7.99 billion and a price-to-earnings ratio of 321.61. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.30 and a current ratio of 1.30. LGN has a one year low of $26.96 and a one year high of $107.24.

LGN (NASDAQ:LGN) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The business had revenue of $1.04 billion during the quarter. The business’s revenue was up 105.2% on a year-over-year basis. As a group, equities research analysts predict that LGN will post 1.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LGN

Hedge funds have recently modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new stake in shares of LGN during the 4th quarter valued at about $1,220,000. Assetmark Inc. acquired a new position in LGN in the 4th quarter worth about $31,000. Freestone Capital Holdings LLC purchased a new position in LGN during the fourth quarter worth approximately $1,153,000. Capelight Capital Asset Management LP purchased a new position in LGN during the fourth quarter worth approximately $4,089,000. Finally, LBP AM SA purchased a new position in LGN during the fourth quarter worth approximately $2,887,000.

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.