LGN (NASDAQ:LGN) Price Target Raised to $64.00 at Royal Bank Of Canada

LGN (NASDAQ:LGN) had its price target lifted by Royal Bank Of Canada from $48.00 to $64.00 in a research note published on Monday,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research analysts have also weighed in on the stock. BMO Capital Markets upped their target price on shares of LGN from $46.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday. BTIG Research lifted their price target on shares of LGN from $45.00 to $75.00 and gave the company a “buy” rating in a research report on Friday. Guggenheim boosted their price target on LGN from $53.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, March 26th. Stifel Nicolaus upped their price target on 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 raised their price objective on LGN from $46.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, LGN has a consensus rating of “Moderate Buy” and an average price target of $62.00.

LGN Stock Performance

LGN stock opened at $53.89 on Monday. LGN has a 1-year low of $26.96 and a 1-year high of $60.50. The company has a 50 day simple moving average of $51.25. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.98.

LGN (NASDAQ:LGN) last posted its quarterly earnings results on Friday, March 27th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.60). The firm had revenue of $737.64 million for the quarter, compared to analyst estimates of $616.05 million. The business’s revenue was up 34.5% compared to the same quarter last year.

Institutional Investors Weigh In On LGN

A number of institutional investors and hedge funds have recently bought and sold shares of LGN. Clearstead Advisors LLC acquired a new position in shares of LGN in the fourth quarter worth $140,000. Seven Grand Managers LLC lifted its position in shares of LGN by 50.0% in the fourth quarter. Seven Grand Managers LLC now owns 600,000 shares of the company’s stock valued at $25,824,000 after acquiring an additional 200,000 shares in the last quarter. Royce & Associates LP boosted its stake in shares of LGN by 955.5% during the fourth quarter. Royce & Associates LP now owns 337,875 shares of the company’s stock valued at $14,542,000 after acquiring an additional 305,865 shares during the last quarter. Truist Financial Corp acquired a new stake in shares of LGN during the fourth quarter valued at $276,000. Finally, DNB Asset Management AS purchased a new stake in LGN during the 4th quarter worth about $215,000.

LGN News Roundup

Here are the key news stories impacting LGN this week:

• Positive Sentiment: Goldman Sachs raised its price target to $63 and reiterated a “buy” rating (roughly mid-teens upside vs. the current price). Read More. Read More.
• Positive Sentiment: Royal Bank of Canada boosted its target to $64 and set an “outperform” rating (high-teens upside). Read More.
• Positive Sentiment: BMO Capital Markets raised its target to $63 and maintained an “outperform” stance. Read More. Read More.
• Positive Sentiment: Tigress Financial reaffirmed a “buy” rating and a $60 target. Read More. Read More.
• Positive Sentiment: AmericanBankingNews published a more aggressive $75 price target and noted the stock gapped up after analyst upgrades, highlighting divergent analyst views and upside potential. Read More. Read More.

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.