LGN (NASDAQ:LGN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of LGN (NASDAQ:LGN) have been given an average recommendation of “Moderate Buy” by the twelve analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $86.40.

A number of brokerages have commented on LGN. Tigress Financial raised their price objective on LGN from $85.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. Stifel Nicolaus raised their price objective on LGN from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, March 31st. Loop Capital began coverage on LGN in a research report on Wednesday, April 29th. They issued a “buy” rating and a $96.00 price objective for the company. BMO Capital Markets raised their price objective on LGN from $63.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Finally, Glj Research began coverage on LGN in a research report on Tuesday, April 21st. They issued a “buy” rating and a $99.00 price objective for the company.

Institutional Trading of LGN

Hedge funds have recently modified their holdings of the company. Freestone Capital Holdings LLC bought a new stake in LGN in the fourth quarter valued at $1,153,000. Pictet Asset Management Holding SA acquired a new position in LGN during the fourth quarter worth $1,722,000. Harbor Capital Advisors Inc. acquired a new position in LGN during the fourth quarter worth $1,220,000. Asset Management One Co. Ltd. acquired a new position in LGN during the fourth quarter worth $3,681,000. Finally, Capelight Capital Asset Management LP acquired a new position in LGN during the fourth quarter worth $4,089,000.

LGN Stock Up 3.4%

Shares of NASDAQ:LGN opened at $86.55 on Tuesday. The firm’s 50 day simple moving average is $75.00. LGN has a twelve month low of $26.96 and a twelve month high of $107.24. The company has a market cap of $9.35 billion and a P/E ratio of 376.30. 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 (NASDAQ:LGN) last announced its earnings results on Thursday, May 14th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.06). The company had revenue of $1.04 billion during the quarter. The business’s quarterly revenue was up 105.2% on a year-over-year basis. Analysts anticipate that LGN will post 1.24 EPS for the current year.

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.