LGN (NASDAQ:LGN) Posts Quarterly Earnings Results, Misses Estimates By $0.60 EPS

LGN (NASDAQ:LGN) announced its quarterly earnings data on Friday. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.60), Briefing.com reports. LGN’s revenue was up 34.5% compared to the same quarter last year.

LGN Trading Up 7.7%

Shares of LGN opened at $57.05 on Friday. LGN has a twelve month low of $26.96 and a twelve month high of $60.50. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.98. The firm’s 50-day moving average is $51.06.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Weiss Ratings began coverage on shares of LGN in a report on Wednesday, January 14th. They set a “sell (d+)” rating on the stock. Barclays boosted their price target on shares of LGN from $37.00 to $45.00 and gave the company an “equal weight” rating in a research report on Friday, January 23rd. Guggenheim upped their price target on shares of LGN from $53.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday. Stifel Nicolaus raised their price objective on shares of LGN from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Finally, The Goldman Sachs Group boosted their target price on shares of LGN from $46.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, LGN presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.60.

Institutional Trading of LGN

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd bought a new position in LGN in the 4th quarter valued at $64,000. Kestra Advisory Services LLC bought a new position in shares of LGN in the fourth quarter worth $91,000. Boothbay Fund Management LLC purchased a new stake in shares of LGN in the fourth quarter worth $253,000. Commerce Bank purchased a new stake in shares of LGN in the fourth quarter worth $263,000. Finally, Polar Asset Management Partners Inc. bought a new stake in LGN during the fourth quarter valued at $373,000.

LGN Company Profile

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.