LGN (NASDAQ:LGN) Stock Gets Price Target Cut from Barclays

LGN (NASDAQ:LGN) had its target price reduced by Barclays from $80.00 to $60.00 in a research note issued to investors on Monday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

LGN has been the subject of a number of other reports. Tigress Financial boosted their price objective on LGN from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. Guggenheim reaffirmed a “buy” rating and issued a $115.00 target price on shares of LGN in a report on Tuesday, August 18th. Roth Capital reaffirmed a “buy” rating and issued a $120.00 target price on shares of LGN in a report on Wednesday, August 12th. Bank of America lifted their price target on shares of LGN from $105.00 to $116.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Finally, BMO Capital Markets boosted their price target on shares of LGN from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, LGN currently has a consensus rating of “Moderate Buy” and an average price target of $98.75.

LGN Price Performance

LGN opened at $41.55 on Monday. The business has a fifty day moving average price of $53.85 and a 200 day moving average price of $69.02. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.35 and a quick ratio of 1.35. LGN has a 12 month low of $31.26 and a 12 month high of $107.24.

LGN (NASDAQ:LGN) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.63). The company had revenue of $1.26 billion during the quarter. LGN had a negative net margin of 1.20% and a positive return on equity of 4.33%. As a group, sell-side analysts anticipate that LGN will post 1.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other LGN news, CAO Bris Philippe Le sold 1,058 shares of LGN stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $55.01, for a total transaction of $58,200.58. Following the completion of the sale, the chief accounting officer directly owned 4,749 shares of the company’s stock, valued at $261,242.49. The trade was a 18.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.01% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LGN. KBC Group NV purchased a new position in shares of LGN in the 1st quarter valued at about $66,000. Nykredit A S purchased a new stake in LGN during the second quarter worth approximately $128,000. Avior Wealth Management LLC purchased a new stake in LGN during the second quarter worth approximately $203,000. Concurrent Investment Advisors LLC purchased a new stake in LGN during the second quarter worth approximately $237,000. Finally, Arizona State Retirement System boosted its holdings in LGN by 34.1% in the second quarter. Arizona State Retirement System now owns 14,847 shares of the company’s stock valued at $1,265,000 after purchasing an additional 3,774 shares in the last quarter.

About LGN

Legence Corp. (NASDAQ: LGN) is an energy-transition solutions provider that helps commercial, industrial and institutional customers improve building performance, reduce energy use and advance decarbonization goals. The company combines technical expertise, project delivery and operational services to address the energy and sustainability needs of complex facilities and infrastructure.

Its services include engineering and design, energy-efficiency improvements, building systems and infrastructure work, renewable-energy and electrification projects, sustainability consulting, and ongoing operations and maintenance.