LGN (NASDAQ:LGN) Price Target Raised to $60.00

LGN (NASDAQ:LGN) had its price objective lifted by Stifel Nicolaus from $58.00 to $60.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. Royal Bank Of Canada raised their target price on LGN from $48.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday. Tigress Financial reaffirmed a “buy” rating and issued a $60.00 price objective on shares of LGN in a report on Friday, March 27th. BTIG Research lifted their price objective on shares of LGN from $45.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, March 27th. Zacks Research lowered shares of LGN from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, Guggenheim upped 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. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.25.

LGN Trading Down 1.5%

NASDAQ:LGN opened at $58.68 on Tuesday. The company has a market capitalization of $6.18 billion and a price-to-earnings ratio of -5,868.00. The company’s 50 day moving average is $51.86. LGN has a 52 week low of $26.96 and a 52 week high of $60.50. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.57 and a quick ratio of 1.57.

LGN (NASDAQ:LGN) last announced its quarterly earnings results on Friday, March 27th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.60). The company had revenue of $737.64 million during the quarter, compared to analyst estimates of $616.05 million. The business’s quarterly revenue was up 34.5% on a year-over-year basis.

Institutional Investors Weigh In On LGN

Hedge funds and other institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC lifted its holdings 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 acquiring an additional 2,474,220 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of LGN in the 4th quarter worth approximately $69,438,000. Vanguard Group Inc. raised its holdings in shares of 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 purchasing an additional 1,415,282 shares in the last quarter. Munro Partners raised its holdings in shares of 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 purchasing an additional 1,325,957 shares in the last quarter. Finally, CI Investments Inc. lifted its stake in LGN by 2,209.7% during the fourth quarter. CI Investments Inc. now owns 788,287 shares of the company’s stock valued at $33,928,000 after purchasing an additional 754,157 shares during the last quarter.

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.