LGN (NASDAQ:LGN) Stock Rating Upgraded by Zacks Research

LGN (NASDAQ:LGN) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Several other research firms have also commented on LGN. Bank of America upped their target price on LGN from $105.00 to $116.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Guggenheim reissued a “buy” rating and issued a $115.00 price target on shares of LGN in a research note on Tuesday. Glj Research assumed coverage on LGN in a report on Tuesday, April 21st. They issued a “buy” rating and a $99.00 price target for the company. Roth Capital reaffirmed a “buy” rating and set a $120.00 price objective on shares of LGN in a research note on Wednesday, August 12th. Finally, Barclays increased their price objective on shares of LGN from $60.00 to $80.00 and gave the stock an “equal weight” rating in a report on Monday, June 22nd. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $99.08.

LGN Stock Down 9.1%

LGN stock opened at $63.66 on Monday. The stock has a market capitalization of $6.88 billion and a P/E ratio of 159.15. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.35 and a current ratio of 1.35. LGN has a one year low of $26.96 and a one year high of $107.24. The company has a 50 day moving average price of $73.03 and a two-hundred day moving average price of $68.75.

LGN (NASDAQ:LGN) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.63). LGN had a negative net margin of 1.20% and a positive return on equity of 4.33%. The business had revenue of $1.26 billion during the quarter. As a group, sell-side analysts expect that LGN will post 1.26 EPS for the current year.

Hedge Funds Weigh In On LGN

A number of hedge funds have recently made changes to their positions in LGN. Assetmark Inc. purchased a new stake in shares of LGN during the fourth quarter valued at approximately $31,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of LGN in the fourth quarter valued at $3,179,000. Asset Management One Co. Ltd. acquired a new stake in LGN during the 4th quarter valued at $3,681,000. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in LGN by 1,073.4% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 86,713 shares of the company’s stock valued at $3,732,000 after purchasing an additional 79,323 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in LGN by 78.1% during the 4th quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company’s stock worth $138,919,000 after buying an additional 1,415,282 shares during the period.

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.