LGN (NASDAQ:LGN) Receives $72.70 Average PT from Analysts

Shares of LGN (NASDAQ:LGN) have earned an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $72.70.

A number of equities analysts have issued reports on LGN shares. Guggenheim lifted their target price 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. Zacks Research cut shares of LGN from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Tigress Financial lifted their price objective on LGN from $60.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. BMO Capital Markets upped their target price on LGN from $46.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, March 30th. Finally, Loop Capital initiated coverage on LGN in a report on Wednesday, April 29th. They set a “buy” rating and a $96.00 target price on the stock.

Institutional Trading of LGN

Large investors have recently made changes to their positions in the stock. Janus Henderson Group PLC raised its stake in LGN by 128.4% in the 4th quarter. Janus Henderson Group PLC now owns 4,401,402 shares of the company’s stock valued at $189,442,000 after purchasing an additional 2,474,220 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in LGN during the fourth quarter worth approximately $69,438,000. Vanguard Group Inc. grew its stake in LGN by 78.1% in the 4th quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company’s stock worth $138,919,000 after acquiring an additional 1,415,282 shares during the period. Munro Partners grew its stake in LGN by 1,875.9% in the 4th quarter. Munro Partners now owns 1,396,642 shares of the company’s stock worth $60,111,000 after acquiring an additional 1,325,957 shares during the period. Finally, CI Investments Inc. raised its holdings in LGN by 2,209.7% in the 4th quarter. CI Investments Inc. now owns 788,287 shares of the company’s stock valued at $33,928,000 after acquiring an additional 754,157 shares during the last quarter.

LGN Stock Down 0.5%

Shares of LGN stock opened at $97.66 on Friday. LGN has a fifty-two week low of $26.96 and a fifty-two week high of $102.64. The stock has a market capitalization of $10.55 billion and a PE ratio of -9,766.00. The firm has a fifty day moving average price of $65.79. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.03.

LGN (NASDAQ:LGN) last released its quarterly earnings data on Friday, March 27th. The company reported ($0.55) EPS 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 analyst estimates of $616.05 million. The business’s revenue for the quarter was up 34.5% compared to the same quarter last year. On average, sell-side analysts anticipate that LGN will post 1.31 earnings per share 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.