LGN (NASDAQ:LGN) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts hold a “Moderate Buy” consensus on LGN, with 10 buy, two strong-buy, one hold and one sell rating among 14 firms. The average 12-month price target is $99.50.
• LGN shares opened at $55.22, down 3.2%, well below the $69.55 200-day moving average and its $107.24 52-week high.
• The company reported a quarterly loss of $0.37 per share, missing the $0.26 consensus estimate, on revenue of $1.26 billion. Analysts expect full-year earnings of $1.36 per share.

Shares of LGN (NASDAQ:LGN - Get Free Report) have earned an average recommendation of "Moderate Buy" from the fourteen research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, ten have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $99.50.

Several brokerages have recently weighed in on LGN. Weiss Ratings downgraded LGN from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, August 31st. Bank of America upped their price target on LGN from $105.00 to $116.00 and gave the company a "buy" rating in a research report on Friday, August 14th. BTIG Research reaffirmed a "buy" rating and set a $100.00 target price (down from $120.00) on shares of LGN in a research note on Friday, August 14th. BMO Capital Markets lifted their target price on LGN from $100.00 to $105.00 and gave the company an "outperform" rating in a research report on Friday, August 14th. Finally, Royal Bank Of Canada decreased their price objective on shares of LGN from $106.00 to $101.00 and set an "outperform" rating on the stock in a report on Wednesday, July 22nd.

Hedge Funds Weigh In On LGN

Several hedge funds have recently added to or reduced their stakes in LGN. WINTON GROUP Ltd grew its stake in LGN by 174.0% during the 2nd quarter. WINTON GROUP Ltd now owns 83,300 shares of the company's stock worth $7,100,000 after buying an additional 52,904 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in LGN in the second quarter valued at $1,073,000. Arizona State Retirement System raised its position in shares of LGN by 34.1% during the 2nd quarter. Arizona State Retirement System now owns 14,847 shares of the company's stock worth $1,265,000 after purchasing an additional 3,774 shares during the last quarter. Nykredit A S purchased a new stake in LGN in the 2nd quarter worth approximately $128,000. Finally, Allianz Asset Management GmbH purchased a new position in shares of LGN during the 2nd quarter worth about $1,568,000.

LGN Trading Down 3.2%

NASDAQ:LGN opened at $55.22 on Thursday. LGN has a 52 week low of $26.96 and a 52 week high of $107.24. The firm has a 50 day moving average of $64.14 and a 200 day moving average of $69.55. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $5.97 billion and a price-to-earnings ratio of 138.05.

LGN (NASDAQ:LGN - Get Free Report) last posted its quarterly earnings results 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). 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, sell-side analysts anticipate that LGN will post 1.36 earnings per share for the current fiscal year.

LGN Company Profile

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.

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.