Royal Bank Of Canada Has Lowered Expectations for LGN (NASDAQ:LGN) Stock Price

Key Points

• Royal Bank of Canada lowered LGN’s price target from $101 to $90 while maintaining an “outperform” rating, implying 111.15% upside from the stock’s $42.62 price.
• Analyst sentiment remains positive overall, with LGN holding a “Moderate Buy” consensus rating and an average price target of $100.42, despite varied targets ranging from $80 to $120.
• LGN recently reported a quarterly loss of $0.37 per share, missing the $0.26 consensus estimate, while shares remain well below their 52-week high of $107.24.

LGN (NASDAQ:LGN - Get Free Report) had its price target reduced by equities research analysts at Royal Bank Of Canada from $101.00 to $90.00 in a report released on Thursday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective indicates a potential upside of 111.15% from the company's current price.

Other research analysts have also recently issued research reports about the company. Barclays upped their price target on LGN from $60.00 to $80.00 and gave the company an "equal weight" rating in a report on Monday, June 22nd. Roth Capital reissued a "buy" rating and set a $120.00 price objective on shares of LGN in a research note on Wednesday, August 12th. BMO Capital Markets raised their price objective on LGN from $100.00 to $105.00 and gave the stock an "outperform" rating in a research note on Friday, August 14th. Bank of America lifted their target price on LGN from $105.00 to $116.00 and gave the stock a "buy" rating in a report on Friday, August 14th. Finally, Stifel Nicolaus cut their target price on LGN from $101.00 to $82.00 and set a "buy" rating on the stock in a research report on Thursday, October 8th. Two equities research 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, LGN presently has an average rating of "Moderate Buy" and an average target price of $100.42.

LGN Price Performance

Shares of NASDAQ:LGN traded down $2.29 during trading on Thursday, reaching $42.62. The company had a trading volume of 281,506 shares, compared to its average volume of 1,362,108. LGN has a twelve month low of $31.26 and a twelve month high of $107.24. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a market capitalization of $4.61 billion and a PE ratio of 105.49. The firm's fifty day moving average is $56.05 and its 200 day moving average is $69.50.

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

Insider Buying and Selling

In related news, CAO Bris Philippe Le sold 4,196 shares of the firm's 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 transaction, the chief accounting officer owned 6,148 shares of the company's stock, valued at approximately $332,360.88. This trade represents a 40.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.01% of the company's stock.

Institutional Trading of LGN

Several large investors have recently added to or reduced their stakes in LGN. KBC Group NV acquired a new position in LGN during the first quarter valued at $66,000. Nykredit A S acquired a new stake in LGN during the 2nd quarter worth about $128,000. Avior Wealth Management LLC acquired a new stake in LGN during the 2nd quarter worth about $203,000. Concurrent Investment Advisors LLC acquired a new stake in LGN during the 2nd quarter worth about $237,000. Finally, Arizona State Retirement System grew its stake in LGN by 34.1% during the 2nd quarter. Arizona State Retirement System now owns 14,847 shares of the company's stock valued at $1,265,000 after acquiring an additional 3,774 shares in the last quarter.

About LGN

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.