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

Key Points

• Analyst consensus is “Moderate Buy”: Of 14 analysts covering LGN, 10 recommend buying, one recommends a strong buy, two advise holding, and one recommends selling. The average 12-month price target is $96.67.
• Price targets have generally been reduced: Stifel Nicolaus, Barclays, Zacks Research, and BTIG Research recently lowered their targets or ratings, while Bank of America raised its target to $116 and maintained a buy rating.
• LGN faces mixed financial signals: Shares opened at $41.90, well below the 52-week high of $107.24, and the company missed quarterly EPS expectations by $0.63, despite reporting $1.26 billion in revenue.

LGN (NASDAQ:LGN - Get Free Report) has earned an average recommendation of "Moderate Buy" from the fourteen analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $96.67.

LGN has been the subject of a number of research reports. Stifel Nicolaus lowered their target price on LGN from $101.00 to $82.00 and set a "buy" rating for the company in a research report on Thursday, October 8th. Barclays lowered their target price on shares of LGN from $80.00 to $60.00 and set an "equal weight" rating for the company in a report on Monday, October 19th. Zacks Research downgraded LGN from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 16th. BTIG Research reaffirmed a "buy" rating and issued a $100.00 price objective (down from $120.00) on shares of LGN in a research note on Friday, August 14th. Finally, Bank of America increased their price target on LGN from $105.00 to $116.00 and gave the company a "buy" rating in a research note on Friday, August 14th.

LGN Stock Performance

Shares of LGN opened at $41.90 on Friday. The firm has a market capitalization of $4.53 billion and a P/E ratio of 104.75. 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 has a one year low of $33.01 and a one year high of $107.24. The business has a fifty day moving average of $50.89 and a 200 day moving average of $63.26.

LGN (NASDAQ:LGN - Get Free Report) last released its earnings results 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 positive return on equity of 4.33% and a negative net margin of 1.20%. The firm had revenue of $1.26 billion during the quarter. As a group, sell-side analysts anticipate that LGN will post 1.36 EPS for the current year.

Insider Activity

In related news, CAO Bris Philippe Le sold 1,058 shares of the stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $55.01, for a total value of $58,200.58. Following the completion of 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 legal filing with the SEC, which is accessible through this link. 0.01% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On LGN

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Reyes Financial Architecture Inc. purchased a new position in LGN in the third quarter worth approximately $45,000. KBC Group NV acquired a new stake in shares of LGN during the 1st quarter worth about $66,000. Nykredit A S acquired a new stake in LGN during the second quarter worth approximately $128,000. Avior Wealth Management LLC purchased a new position in shares of LGN in the 2nd quarter valued at $203,000. Finally, Concurrent Investment Advisors LLC acquired a new stake in LGN during the 2nd quarter worth $237,000.

About LGN

Legence Corp. NASDAQ: LGN is an energy-transition solutions provider that helps commercial, industrial and institutional customers improve building performance, reduce energy use and advance decarbonization goals. The company combines technical expertise, project delivery and operational services to address the energy and sustainability needs of complex facilities and infrastructure.

Its services include engineering and design, energy-efficiency improvements, building systems and infrastructure work, renewable-energy and electrification projects, sustainability consulting, and ongoing operations and maintenance.

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