LGN (NASDAQ:LGN) Stock Gets Price Target Reduction from Stifel Nicolaus

LGN (NASDAQ:LGN) had its price target trimmed by Stifel Nicolaus from $101.00 to $82.00 in a report published on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also commented on LGN. Roth Capital reissued a “buy” rating and issued a $120.00 price target on shares of LGN in a research report on Wednesday, August 12th. Tigress Financial upped their price objective on shares of LGN from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. BMO Capital Markets upped their price objective on shares of LGN from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. Royal Bank Of Canada lowered their target price on shares of LGN from $106.00 to $101.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 22nd. Finally, BTIG Research reiterated a “buy” rating and issued a $100.00 target price (down from $120.00) on shares of LGN in a report on Friday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.33.

LGN Stock Performance

Shares of NASDAQ LGN opened at $51.53 on Thursday. The business’s 50-day simple moving average is $57.17 and its 200-day simple moving average is $69.52. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.35 and a current ratio of 1.35. LGN has a 52 week low of $30.65 and a 52 week high of $107.24. The firm has a market cap of $5.57 billion and a price-to-earnings ratio of 128.82.

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

Insider Buying and Selling

In other LGN news, CAO Bris Philippe Le sold 4,196 shares of LGN stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $54.06, for a total value of $226,835.76. Following the transaction, the chief accounting officer directly owned 6,148 shares of the company’s stock, valued at $332,360.88. The trade was a 40.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LGN

Several hedge funds have recently modified their holdings of the business. KBC Group NV acquired a new stake in shares of LGN in the first quarter worth $66,000. Nykredit A S bought a new position in LGN during the second quarter worth $128,000. Avior Wealth Management LLC acquired a new position in LGN during the 2nd quarter valued at $203,000. Sanctuary Advisors LLC acquired a new position in LGN during the 1st quarter valued at $228,000. Finally, Concurrent Investment Advisors LLC acquired a new position in LGN during the 2nd quarter valued at $237,000.

LGN Company Profile

Legence Corp. (NASDAQ: LGN) is an energy-transition and building-solutions company that helps commercial, industrial and institutional customers improve the performance, efficiency and sustainability of their facilities and infrastructure. Its work is focused on reducing energy consumption and emissions while supporting the development, modernization and operation of complex buildings and facilities.

The company provides services that may include engineering, design, construction, building automation and controls, heating, ventilation and air-conditioning systems, electrical services, energy management, renewable-energy solutions, maintenance and facility optimization.