LGN (NASDAQ:LGN) Given “Buy” Rating at BTIG Research

BTIG Research reaffirmed their buy rating on shares of LGN (NASDAQ:LGN) in a research note published on Friday,Benzinga reports. The firm currently has a $100.00 price target on the stock, down from their previous price target of $120.00.

A number of other equities analysts also recently issued reports on LGN. The Goldman Sachs Group increased their target price on LGN from $63.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Royal Bank Of Canada dropped their price objective on LGN from $106.00 to $101.00 and set an “outperform” rating on the stock in a report on Wednesday, July 22nd. Loop Capital initiated coverage on LGN in a report on Wednesday, April 29th. They issued a “buy” rating and a $96.00 target price for the company. Barclays boosted their target price on shares of LGN from $60.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Monday, June 22nd. Finally, Tigress Financial upped their price target on shares of LGN from $85.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $99.08.

LGN Stock Up 5.0%

Shares of NASDAQ:LGN opened at $66.38 on Friday. The company has a market cap of $7.17 billion and a price-to-earnings ratio of 288.61. The firm’s 50-day simple moving average is $73.77 and its 200-day simple moving average is $68.40. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.06. LGN has a fifty-two week low of $26.96 and a fifty-two week high of $107.24.

LGN (NASDAQ:LGN) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.63). The firm had revenue of $1.26 billion for the quarter. LGN had a positive return on equity of 4.48% and a negative net margin of 1.20%. As a group, equities research analysts predict that LGN will post 1.24 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LGN. Value Aligned Research Advisors LLC grew its stake in LGN by 22.4% in the 1st quarter. Value Aligned Research Advisors LLC now owns 308,141 shares of the company’s stock valued at $17,398,000 after acquiring an additional 56,460 shares during the last quarter. Pictet Asset Management Holding SA acquired a new position in LGN during the fourth quarter worth about $1,722,000. Renaissance Technologies LLC lifted its holdings in shares of LGN by 87.6% in the first quarter. Renaissance Technologies LLC now owns 579,700 shares of the company’s stock valued at $32,730,000 after purchasing an additional 270,615 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of LGN in the fourth quarter valued at about $3,179,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of LGN by 65.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 176,251 shares of the company’s stock worth $9,951,000 after purchasing an additional 69,914 shares in the last quarter.

Key Headlines Impacting LGN

Here are the key news stories impacting LGN this week:

• Positive Sentiment: Legence reported record second-quarter revenue of $1.26 billion, up 111% year over year, while adjusted EBITDA rose 114% to $154.6 million. Organic revenue growth excluding the Bowers acquisition was 60%, indicating substantial underlying demand. Legence Reports Second Quarter 2026 Financial Results
• Positive Sentiment: Management raised its 2026 revenue outlook to $4.7 billion-$4.8 billion from $4.1 billion-$4.3 billion and lifted adjusted EBITDA guidance to $565 million-$585 million from $470 million-$490 million. Third-quarter revenue guidance of $1.225 billion-$1.275 billion also exceeds the reported consensus estimate. Legence Raises 2026 Guidance
• Positive Sentiment: Backlog and awarded contracts reached a record $5.67 billion, up 105% year over year, providing improved revenue visibility. Demand was particularly strong in data centers and technology, as well as life sciences, government and education.
• Positive Sentiment: Bank of America raised its LGN price target to $116 from $105 and assigned a Buy rating. BMO also increased its target to $105 from $100 and rated the shares Outperform. Both targets imply substantial upside from recent trading levels. Analyst Price Target Revisions
• Neutral Sentiment: BTIG reaffirmed its Buy rating but reduced its price target to $100 from $120, reflecting a more cautious view after the quarterly results. Roth Capital also reiterated a Buy rating.
• Negative Sentiment: Legence reported a loss of $0.37 per share, versus analysts’ expected profit of $0.26. Net loss attributable to Legence widened to $27.8 million from $5.3 million a year earlier, partly reflecting goodwill and long-lived asset impairments.
• Negative Sentiment: Gross margin declined to 17.4% from 21.5%, while adjusted gross margin fell to 18.5% from 21.8%, due to an unfavorable business mix and higher service-delivery costs. Analysts’ mixed reactions, including several price-target reductions, underscore concerns about profitability despite the strong top-line outlook.

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.