LGN (NASDAQ:LGN) Stock Gets Price Target Trim from Barclays

Key Points

• Barclays cut its LGN price target from $80 to $60 while maintaining an “equal weight” rating, implying roughly 35% upside from the stock’s reported $44.41 price.
• Analyst sentiment remains broadly positive, with LGN carrying a “Moderate Buy” consensus rating and an average price target of $98.75, despite several recent target reductions.
• LGN reported a quarterly EPS loss of $0.37, missing the $0.26 consensus estimate, while revenue totaled $1.26 billion; the stock remains well below its 52-week high of $107.24.

LGN (NASDAQ:LGN - Get Free Report) had its price objective dropped by stock analysts at Barclays from $80.00 to $60.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Barclays's price objective suggests a potential upside of 35.10% from the company's current price.

LGN has been the subject of a number of other reports. Royal Bank Of Canada reduced their price target on shares of LGN from $101.00 to $90.00 and set an "outperform" rating for the company in a research note on Thursday. Tigress Financial lifted their price target on shares of LGN from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, August 19th. Stifel Nicolaus dropped their price target on LGN from $101.00 to $82.00 and set a "buy" rating on the stock in a report on Thursday, October 8th. Roth Capital reiterated a "buy" rating and issued a $120.00 price target on shares of LGN in a research report on Wednesday, August 12th. Finally, BMO Capital Markets raised their target price on shares of LGN from $100.00 to $105.00 and gave the stock an "outperform" rating in a report on Friday, August 14th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, LGN presently has an average rating of "Moderate Buy" and an average price target of $98.75.

LGN Stock Up 2.0%

NASDAQ LGN traded up $0.88 during mid-day trading on Monday, reaching $44.41. 449,293 shares of the company's stock traded hands, compared to its average volume of 1,373,667. LGN has a 1-year low of $31.26 and a 1-year high of $107.24. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.03. The company has a market cap of $4.80 billion and a price-to-earnings ratio of 110.40. The company has a fifty day simple moving average of $55.27 and a 200-day simple moving average of $69.36.

LGN (NASDAQ:LGN - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.63). LGN had a negative net margin of 1.20% and a positive return on equity of 4.33%. The firm had revenue of $1.26 billion for the quarter. As a group, equities research analysts expect that LGN will post 1.36 EPS for the current year.

Insiders Place Their Bets

In other LGN news, CAO Bris Philippe Le sold 4,196 shares of LGN stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $54.06, for a total value of $226,835.76. Following the completion of the sale, the chief accounting officer directly owned 6,148 shares in the company, valued at $332,360.88. The trade was a 40.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.01% of the company's stock.

Institutional Trading of LGN

A number of institutional investors and hedge funds have recently made changes to their positions in LGN. Value Aligned Research Advisors LLC lifted its stake in shares of LGN by 22.4% in the first quarter. Value Aligned Research Advisors LLC now owns 308,141 shares of the company's stock worth $17,398,000 after buying an additional 56,460 shares during the last quarter. WINTON GROUP Ltd lifted its stake in shares of LGN by 174.0% in the second quarter. WINTON GROUP Ltd now owns 83,300 shares of the company's stock valued at $7,100,000 after buying an additional 52,904 shares during the period. Allianz Asset Management GmbH acquired a new stake in shares of LGN during the 2nd quarter worth approximately $1,568,000. Renaissance Technologies LLC boosted its stake in LGN by 87.6% during the first quarter. Renaissance Technologies LLC now owns 579,700 shares of the company's stock worth $32,730,000 after buying an additional 270,615 shares in the last quarter. Finally, Swiss National Bank acquired a new stake in shares of LGN during the 1st quarter valued at about $4,500,000.

LGN Company Profile

Legence Corp. NASDAQ: LGN is an energy-transition and building-solutions company that helps commercial, industrial and institutional customers improve the performance, efficiency and sustainability of their facilities and infrastructure. Its work is focused on reducing energy consumption and emissions while supporting the development, modernization and operation of complex buildings and facilities.

The company provides services that may include engineering, design, construction, building automation and controls, heating, ventilation and air-conditioning systems, electrical services, energy management, renewable-energy solutions, maintenance and facility optimization.

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