LGN (NASDAQ:LGN) Earns Buy Rating from Guggenheim

LGN (NASDAQ:LGN)‘s stock had its “buy” rating reiterated by Guggenheim in a research report issued on Tuesday,Benzinga reports. They currently have a $115.00 price target on the stock. Guggenheim’s price objective points to a potential upside of 64.19% from the stock’s current price.

LGN has been the subject of several other reports. Glj Research started coverage on shares of LGN in a research note on Tuesday, April 21st. They set a “buy” rating and a $99.00 price objective for the company. Bank of America raised their target price on LGN from $105.00 to $116.00 and gave the stock a “buy” rating in a research note on Friday. Weiss Ratings upgraded LGN from a “sell (d-)” rating to a “sell (d+)” rating in a report on Friday. Royal Bank Of Canada reduced their target price on LGN from $106.00 to $101.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 22nd. Finally, Roth Capital reiterated a “buy” rating and issued a $120.00 price target on shares of LGN in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $99.08.

LGN Price Performance

LGN opened at $70.04 on Tuesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.35 and a quick ratio of 1.35. The stock’s 50 day simple moving average is $73.47 and its 200 day simple moving average is $68.67. The firm has a market cap of $7.57 billion and a price-to-earnings ratio of 304.52. LGN has a 1 year low of $26.96 and a 1 year high of $107.24.

LGN (NASDAQ:LGN) last announced its quarterly earnings data 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 negative net margin of 1.20% and a positive return on equity of 4.33%. As a group, analysts predict that LGN will post 1.24 earnings per share for the current year.

Hedge Funds Weigh In On LGN

Institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its position in LGN by 128.4% during the fourth quarter. Janus Henderson Group PLC now owns 4,401,402 shares of the company’s stock valued at $189,442,000 after buying an additional 2,474,220 shares during the period. Vanguard Group Inc. lifted its holdings in shares of LGN by 78.1% during the fourth quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company’s stock valued at $138,919,000 after purchasing an additional 1,415,282 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of LGN during the fourth quarter valued at approximately $69,438,000. Munro Partners boosted its position 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. boosted its position in shares of LGN by 2,209.7% in the 4th quarter. CI Investments Inc. now owns 788,287 shares of the company’s stock worth $33,928,000 after purchasing an additional 754,157 shares in 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.