LGN (NASDAQ:LGN) Stock Now Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analyst sentiment is moderately bullish: Fourteen firms rate LGN “Moderate Buy,” including 10 buys and two strong buys, with an average 12-month price target of $99.50.
• Recent analysts have generally raised their targets, including Bank of America to $116 and BMO Capital Markets to $105, although BTIG lowered its target to $100 and Weiss Ratings maintained a sell view.
• LGN opened at $53.61, well below its 12-month high of $107.24, and recently reported a quarterly EPS loss of $0.37 versus consensus expectations for EPS of $0.26.

Shares of LGN (NASDAQ:LGN - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the fourteen research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $99.50.

LGN has been the topic of a number of recent research reports. Zacks Research raised shares of LGN from a "hold" rating to a "strong-buy" rating in a report on Monday, August 17th. Weiss Ratings downgraded shares of LGN from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday, August 31st. Bank of America lifted their price target on LGN from $105.00 to $116.00 and gave the stock a "buy" rating in a research note on Friday, August 14th. BMO Capital Markets raised their price target on shares of LGN from $100.00 to $105.00 and gave the stock an "outperform" rating in a report on Friday, August 14th. Finally, BTIG Research reaffirmed a "buy" rating and set a $100.00 price objective (down from $120.00) on shares of LGN in a research report on Friday, August 14th.

Insider Buying and Selling

In other news, CAO Bris Philippe Le sold 1,058 shares of the company's stock in a transaction that occurred 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 in the company, valued at approximately $261,242.49. This represents a 18.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.01% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On LGN

Several hedge funds have recently made changes to their positions in the business. KBC Group NV acquired a new position in LGN during the first quarter worth $66,000. Nykredit A S acquired a new stake in shares of LGN during the second quarter worth $128,000. Avior Wealth Management LLC bought a new position in LGN during the 2nd quarter worth $203,000. Sanctuary Advisors LLC bought a new position in shares of LGN in the first quarter worth $228,000. Finally, Concurrent Investment Advisors LLC bought a new stake in shares of LGN during the 2nd quarter worth approximately $237,000.

LGN Price Performance

LGN opened at $53.61 on Monday. The stock has a market capitalization of $5.79 billion and a price-to-earnings ratio of 134.02. The business has a 50-day moving average of $57.91 and a two-hundred day moving average of $69.57. LGN has a 12 month low of $29.32 and a 12 month high of $107.24. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.35 and a quick ratio of 1.35.

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

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.

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