Analysts Set LGN (NASDAQ:LGN) PT at $93.10

LGN (NASDAQ:LGN) has earned an average rating of “Moderate Buy” from the twelve analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $96.80.

LGN has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LGN in a research report on Friday, June 26th. The Goldman Sachs Group increased their price target on LGN from $63.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Royal Bank Of Canada dropped their price target on LGN from $106.00 to $101.00 and set an “outperform” rating on the stock in a research note on Wednesday. BMO Capital Markets boosted their price objective on LGN from $63.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Finally, Barclays upped their price objective on shares of LGN from $60.00 to $80.00 and gave the company an “equal weight” rating in a research note on Monday, June 22nd.

LGN Stock Performance

LGN stock opened at $70.80 on Wednesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market capitalization of $7.65 billion and a price-to-earnings ratio of 307.83. LGN has a 1 year low of $26.96 and a 1 year high of $107.24. The business has a 50 day simple moving average of $79.96.

LGN (NASDAQ:LGN) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The firm had revenue of $1.04 billion during the quarter. The business’s revenue for the quarter was up 105.2% on a year-over-year basis. As a group, equities analysts predict that LGN will post 1.24 EPS for the current fiscal year.

Institutional Investors Weigh In On LGN

Large investors have recently made changes to their positions in the company. Janus Henderson Group PLC boosted its stake in LGN by 128.4% in the 4th quarter. Janus Henderson Group PLC now owns 4,401,402 shares of the company’s stock worth $189,442,000 after purchasing an additional 2,474,220 shares during the period. Vanguard Group Inc. grew its position in LGN by 78.1% during the 4th quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company’s stock worth $138,919,000 after purchasing an additional 1,415,282 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in LGN during the 4th quarter valued at $69,438,000. Munro Partners raised its stake in LGN by 1,875.9% during the 4th quarter. Munro Partners now owns 1,396,642 shares of the company’s stock valued at $60,111,000 after purchasing an additional 1,325,957 shares during the period. Finally, CI Investments Inc. lifted its holdings in shares of LGN by 2,209.7% in the fourth quarter. CI Investments Inc. now owns 788,287 shares of the company’s stock valued at $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.