LGN (NASDAQ:LGN) Now Covered by Analysts at Glj Research

Glj Research assumed coverage on shares of LGN (NASDAQ:LGN) in a research report sent to investors on Tuesday morning,Benzinga reports. The firm issued a buy rating and a $99.00 target price on the stock.

Several other brokerages have also recently weighed in on LGN. Royal Bank Of Canada lifted their price target on LGN from $48.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. Zacks Research cut LGN from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Weiss Ratings initiated coverage on LGN in a research report on Wednesday, January 14th. They issued a “sell (d+)” rating for the company. BMO Capital Markets lifted their price target on LGN from $46.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. Finally, BTIG Research lifted their price target on LGN from $45.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, March 27th. Eight 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.11.

LGN Price Performance

Shares of LGN opened at $76.59 on Tuesday. The company has a market capitalization of $8.27 billion and a price-to-earnings ratio of -7,659.00. LGN has a 1 year low of $26.96 and a 1 year high of $78.29. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.57 and a current ratio of 1.57. The company has a fifty day moving average price of $55.94.

LGN (NASDAQ:LGN) last announced its quarterly earnings results on Friday, March 27th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.60). The firm had revenue of $737.64 million during the quarter, compared to the consensus estimate of $616.05 million. LGN’s revenue was up 34.5% compared to the same quarter last year. Sell-side analysts anticipate that LGN will post 1.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LGN

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. purchased a new position in LGN during the fourth quarter worth about $2,559,000. Mariner Investment Group LLC purchased a new position in LGN during the fourth quarter worth about $430,000. Invesco Ltd. purchased a new position in LGN during the fourth quarter worth about $1,014,000. Alberta Investment Management Corp grew its position in LGN by 30.9% during the fourth quarter. Alberta Investment Management Corp now owns 392,738 shares of the company’s stock worth $16,903,000 after buying an additional 92,738 shares in the last quarter. Finally, Regal Partners Ltd purchased a new position in LGN during the fourth quarter worth about $1,076,000.

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.