Analysts Set LGN (NASDAQ:LGN) PT at $62.25

Shares of LGN (NASDAQ:LGN) have been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $62.25.

LGN has been the subject of several research analyst reports. Royal Bank Of Canada boosted their price objective on shares of LGN from $48.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, March 30th. Guggenheim boosted their price objective on shares of LGN from $53.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, March 26th. Stifel Nicolaus boosted their price objective on shares of LGN from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, March 31st. Barclays boosted their price objective on shares of LGN from $37.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Finally, The Goldman Sachs Group boosted their price objective on shares of LGN from $52.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, March 30th.

LGN Price Performance

Shares of LGN opened at $69.54 on Monday. 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 stock has a 50 day simple moving average of $54.01. LGN has a one year low of $26.96 and a one year high of $69.66. The firm has a market cap of $7.51 billion and a P/E ratio of -6,954.00.

LGN (NASDAQ:LGN) last posted its quarterly earnings data on Friday, March 27th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.60). The company had revenue of $737.64 million for the quarter, compared to analysts’ expectations of $616.05 million. LGN’s revenue was up 34.5% on a year-over-year basis.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Assetmark Inc. bought a new stake in shares of LGN during the 4th quarter valued at $31,000. Aster Capital Management DIFC Ltd bought a new stake in shares of LGN during the 4th quarter valued at $64,000. Kestra Advisory Services LLC bought a new stake in shares of LGN during the 4th quarter valued at $91,000. Clearstead Advisors LLC bought a new stake in shares of LGN during the 4th quarter valued at $140,000. Finally, Comerica Bank bought a new stake in shares of LGN during the 4th quarter valued at $192,000.

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.