LGN (NASDAQ:LGN) Receives $99.08 Average Target Price from Analysts

Shares of LGN (NASDAQ:LGN) have been assigned an average rating of “Moderate Buy” from the fourteen analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, ten have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $99.50.

A number of research firms recently commented on LGN. Guggenheim reiterated a “buy” rating and issued a $115.00 target price on shares of LGN in a report on Tuesday. BMO Capital Markets raised their target price on shares of LGN from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. Weiss Ratings upgraded shares of LGN from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Friday, August 14th. Zacks Research raised LGN from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, Roth Capital reiterated a “buy” rating and set a $120.00 price objective on shares of LGN in a research report on Wednesday, August 12th.

Institutional Investors Weigh In On LGN

A number of institutional investors and hedge funds have recently modified their holdings of LGN. Avior Wealth Management LLC purchased a new stake in shares of LGN during the second quarter valued at $203,000. Bank of America Corp DE raised its holdings in LGN by 161.4% during the 1st quarter. Bank of America Corp DE now owns 680,217 shares of the company’s stock worth $38,405,000 after buying an additional 419,997 shares during the period. Value Aligned Research Advisors LLC raised its holdings in LGN by 22.4% during the 1st quarter. Value Aligned Research Advisors LLC now owns 308,141 shares of the company’s stock worth $17,398,000 after buying an additional 56,460 shares during the period. Royal Bank of Canada lifted its stake in LGN by 662.4% during the first quarter. Royal Bank of Canada now owns 22,856 shares of the company’s stock valued at $1,290,000 after buying an additional 19,858 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in LGN by 57.9% during the first quarter. The Manufacturers Life Insurance Company now owns 18,129 shares of the company’s stock valued at $1,024,000 after buying an additional 6,647 shares in the last quarter.

LGN Trading Down 3.9%

Shares of LGN stock opened at $60.08 on Friday. The business has a fifty day simple moving average of $72.17 and a 200-day simple moving average of $68.92. LGN has a fifty-two week low of $26.96 and a fifty-two week high of $107.24. The firm has a market cap of $6.49 billion and a price-to-earnings ratio of 150.20. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.03.

LGN (NASDAQ:LGN) last released its earnings results on Thursday, August 13th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.63). LGN had a positive return on equity of 4.33% and a negative net margin of 1.20%.The firm had revenue of $1.26 billion for the 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.