Brokerages Set LGN (NASDAQ:LGN) Target Price at $88.40

LGN (NASDAQ:LGN) has been assigned an average recommendation of “Moderate Buy” from the twelve research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $88.40.

LGN has been the subject of several analyst reports. Tigress Financial lifted their price objective on shares of LGN from $85.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. Loop Capital started coverage on LGN in a report on Wednesday, April 29th. They set a “buy” rating and a $96.00 target price on the stock. The Goldman Sachs Group upped their price target on LGN from $63.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. BMO Capital Markets increased their price objective on LGN from $63.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Finally, Glj Research initiated coverage on LGN in a research note on Tuesday, April 21st. They issued a “buy” rating and a $99.00 price objective on the stock.

LGN Trading Down 6.1%

LGN opened at $80.00 on Friday. LGN has a 1 year low of $26.96 and a 1 year high of $107.24. The company’s fifty day moving average price is $85.76. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $8.64 billion and a PE ratio of 347.83.

LGN (NASDAQ:LGN) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.13 EPS 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 firm’s quarterly revenue was up 105.2% compared to the same quarter last year. As a group, sell-side analysts forecast that LGN will post 1.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LGN

Institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new position in LGN during the fourth quarter worth $1,220,000. Assetmark Inc. bought a new stake in LGN in the 4th quarter valued at $31,000. Freestone Capital Holdings LLC acquired a new stake in LGN in the 4th quarter worth $1,153,000. Capelight Capital Asset Management LP acquired a new stake in LGN in the 4th quarter worth $4,089,000. Finally, LBP AM SA bought a new position in shares of LGN during the 4th quarter worth about $2,887,000.

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.