Royal Bank Of Canada Cuts LGN (NASDAQ:LGN) Price Target to $101.00

LGN (NASDAQ:LGN) had its price objective reduced by Royal Bank Of Canada from $106.00 to $101.00 in a research report released on Wednesday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Several other brokerages also recently commented on LGN. BTIG Research raised their price objective on LGN from $75.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Loop Capital began coverage on LGN in a research note on Wednesday, April 29th. They issued a “buy” rating and a $96.00 target price for the company. Tigress Financial increased their price target on LGN from $85.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. Guggenheim raised their price target on LGN from $106.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Finally, Zacks Research lowered LGN from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $96.80.

LGN Stock Performance

Shares of NASDAQ:LGN opened at $70.80 on Wednesday. LGN has a 52 week low of $26.96 and a 52 week high of $107.24. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market capitalization of $7.65 billion and a P/E ratio of 307.83. The firm has a 50 day moving average price of $79.96.

LGN (NASDAQ:LGN) last posted 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 business had revenue of $1.04 billion for the quarter. The firm’s revenue for the quarter was up 105.2% on a year-over-year basis. On average, sell-side analysts forecast that LGN will post 1.24 earnings per share for the current year.

Institutional Trading of LGN

Institutional investors have recently modified their holdings of the company. Assetmark Inc. bought a new position in shares of LGN during the fourth quarter worth about $31,000. Aster Capital Management DIFC Ltd bought a new stake in LGN in the 4th quarter valued at approximately $64,000. KBC Group NV acquired a new position in LGN during the 1st quarter worth approximately $66,000. Kestra Advisory Services LLC acquired a new position in LGN during the 4th quarter worth approximately $91,000. Finally, Clearstead Advisors LLC bought a new position in shares of LGN during the 4th quarter worth approximately $140,000.

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.