LGN (NASDAQ:LGN) Stock Price Target Lowered at Stifel Nicolaus

Key Points

• Stifel Nicolaus lowered LGN’s price target from $101 to $82 but maintained a “buy” rating, implying 63.83% upside from the prior close.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $101.33, despite several firms also reducing targets.
• LGN shares fell to $50.05, while the company recently reported a quarterly EPS loss of $0.37 versus the expected $0.26 profit on $1.26 billion in revenue.

LGN (NASDAQ:LGN - Get Free Report) had its price objective cut by analysts at Stifel Nicolaus from $101.00 to $82.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' price target would indicate a potential upside of 63.83% from the company's previous close.

Other analysts have also issued research reports about the stock. BMO Capital Markets upped 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. BTIG Research reissued a "buy" rating and issued a $100.00 price target (down from $120.00) on shares of LGN in a report on Friday, August 14th. Zacks Research raised shares of LGN from a "hold" rating to a "strong-buy" rating in a report on Monday, August 17th. Tigress Financial lifted their price objective on LGN from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, August 19th. Finally, Guggenheim restated a "buy" rating and set a $115.00 target price on shares of LGN in a research report on Tuesday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $101.33.

LGN Stock Performance

LGN traded down $3.30 during trading on Thursday, hitting $50.05. 312,701 shares of the company traded hands, compared to its average volume of 1,369,406. The firm has a market cap of $5.41 billion and a P/E ratio of 124.46. The stock's fifty day moving average is $57.58 and its 200 day moving average is $69.63. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.03. LGN has a one year low of $30.33 and a one year high of $107.24.

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

Insider Buying and Selling at LGN

In other LGN news, CAO Bris Philippe Le sold 1,058 shares of the business's stock in a transaction on Friday, September 18th. The shares were sold at an average price of $55.01, for a total transaction of $58,200.58. Following the transaction, the chief accounting officer directly owned 4,749 shares of the company's stock, valued at approximately $261,242.49. The trade was a 18.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.01% of the company's stock.

Institutional Trading of LGN

A number of hedge funds and other institutional investors have recently modified their holdings of LGN. Value Aligned Research Advisors LLC raised its position in 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 acquiring an additional 56,460 shares during the period. WINTON GROUP Ltd increased its stake in shares of LGN by 174.0% in the 2nd quarter. WINTON GROUP Ltd now owns 83,300 shares of the company's stock worth $7,100,000 after purchasing an additional 52,904 shares in the last quarter. Allianz Asset Management GmbH bought a new position in LGN in the 2nd quarter worth $1,568,000. Renaissance Technologies LLC lifted its position in LGN by 87.6% during the first quarter. Renaissance Technologies LLC now owns 579,700 shares of the company's stock valued at $32,730,000 after purchasing an additional 270,615 shares in the last quarter. Finally, Swiss National Bank purchased a new position in LGN during the first quarter valued at $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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