LGN (NASDAQ:LGN) Receives $86.40 Average PT from Brokerages

LGN (NASDAQ:LGN) has been assigned a consensus rating of “Moderate Buy” from the twelve analysts that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $86.40.

A number of analysts have recently weighed in on LGN shares. BTIG Research raised their price target on shares of LGN from $75.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Guggenheim raised their price target on shares of LGN from $53.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, March 26th. Loop Capital started coverage on shares of LGN in a report on Wednesday, April 29th. They issued a “buy” rating and a $96.00 price target on the stock. BMO Capital Markets raised their price target on shares of LGN from $63.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Finally, Royal Bank Of Canada raised their price target on shares of LGN from $48.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, March 30th.

Hedge Funds Weigh In On LGN

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its position in shares of LGN by 161.4% in the 1st quarter. Bank of America Corp DE now owns 680,217 shares of the company’s stock valued at $38,405,000 after purchasing an additional 419,997 shares during the last quarter. Value Aligned Research Advisors LLC increased its holdings in LGN by 22.4% in the 1st quarter. Value Aligned Research Advisors LLC now owns 308,141 shares of the company’s stock worth $17,398,000 after buying an additional 56,460 shares during the period. Royal Bank of Canada increased its holdings in LGN by 662.4% in the 1st quarter. Royal Bank of Canada now owns 22,856 shares of the company’s stock worth $1,290,000 after buying an additional 19,858 shares during the period. The Manufacturers Life Insurance Company increased its holdings in LGN by 57.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 18,129 shares of the company’s stock worth $1,024,000 after buying an additional 6,647 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in LGN by 87.6% in the 1st quarter. Renaissance Technologies LLC now owns 579,700 shares of the company’s stock worth $32,730,000 after buying an additional 270,615 shares during the period.

LGN Stock Performance

NASDAQ:LGN opened at $83.69 on Tuesday. LGN has a fifty-two week low of $26.96 and a fifty-two week high of $107.24. The company has a market cap of $9.04 billion and a PE ratio of 363.87. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.06. The firm has a 50-day moving average price of $77.73.

LGN (NASDAQ:LGN) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The firm had revenue of $1.04 billion for the quarter. LGN’s quarterly revenue was up 105.2% on a year-over-year basis. On average, research analysts forecast that LGN will post 1.24 EPS for the current year.

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.