LGN (NASDAQ:LGN) Given New $85.00 Price Target at Tigress Financial

LGN (NASDAQ:LGN) had its target price hoisted by Tigress Financial from $60.00 to $85.00 in a research note issued to investors on Thursday morning,Benzinga reports. Tigress Financial currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. The Goldman Sachs Group boosted their price objective on shares of LGN from $63.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday. Weiss Ratings started coverage on LGN in a research report on Wednesday, January 14th. They set a “sell (d+)” rating on the stock. Zacks Research lowered shares of LGN from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. BTIG Research increased their price target on shares of LGN from $45.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, March 27th. Finally, BMO Capital Markets raised their target price on LGN from $46.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, LGN presently has an average rating of “Moderate Buy” and an average price target of $66.50.

LGN Price Performance

Shares of LGN opened at $68.80 on Thursday. LGN has a 1-year low of $26.96 and a 1-year high of $70.35. The firm’s 50-day moving average is $54.50. The company has a market cap of $7.43 billion and a price-to-earnings ratio of -6,880.00. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.03.

LGN (NASDAQ:LGN) last announced its quarterly earnings data 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 company had revenue of $737.64 million for the quarter, compared to the consensus estimate of $616.05 million. LGN’s revenue for the quarter was up 34.5% on a year-over-year basis.

Institutional Investors Weigh In On LGN

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Freestone Capital Holdings LLC acquired a new stake in LGN during the 4th quarter worth $1,153,000. Harbor Capital Advisors Inc. purchased a new stake in LGN in the fourth quarter valued at $1,220,000. Capelight Capital Asset Management LP purchased a new stake in LGN in the fourth quarter valued at $4,089,000. Summit Creek Advisors LLC purchased a new stake in LGN in the fourth quarter valued at approximately $10,664,000. Finally, Hiddenite Capital Partners LP purchased a new stake in LGN in the fourth quarter valued at approximately $6,569,000.

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.