Guggenheim Issues Positive Forecast for LGN (NASDAQ:LGN) Stock Price

Key Points

• Guggenheim raised its price target on LGN from $106 to $115 and kept a buy rating, implying about 55.5% upside from the current share price.
• Other analysts remain largely positive on LGN, with several recent target increases; MarketBeat says the stock now carries a Moderate Buy consensus and an average target price of $93.10.
• LGN shares were up 2.8% to $73.97, while the company’s latest quarter showed revenue growth of 105.2% year over year but earnings of $0.13 per share, missing estimates.

LGN (NASDAQ:LGN - Get Free Report) had its price target raised by investment analysts at Guggenheim from $106.00 to $115.00 in a report released on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Guggenheim's price objective suggests a potential upside of 55.47% from the stock's current price.

Several other equities research analysts also recently weighed in on the company. Loop Capital began coverage on LGN in a report on Wednesday, April 29th. They issued a "buy" rating and a $96.00 price target for the company. BTIG Research upped their price objective on shares of LGN from $75.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, May 14th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of LGN in a research report on Friday, June 26th. Tigress Financial increased their price objective on shares of LGN from $85.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, May 19th. Finally, BMO Capital Markets lifted their target price on shares of LGN from $63.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $93.10.

LGN Trading Up 2.8%

Shares of LGN opened at $73.97 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a market cap of $7.99 billion and a price-to-earnings ratio of 321.61. LGN has a 12 month low of $26.96 and a 12 month high of $107.24. The firm's fifty day simple moving average is $85.09.

LGN (NASDAQ:LGN - Get Free Report) last announced its earnings results on Thursday, May 14th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.06). The company had revenue of $1.04 billion during the quarter. The business's revenue was up 105.2% on a year-over-year basis. As a group, research analysts forecast that LGN will post 1.24 EPS for the current year.

Institutional Trading of LGN

Several large investors have recently added to or reduced their stakes in LGN. Janus Henderson Group PLC raised its stake in shares of LGN by 128.4% in the fourth quarter. Janus Henderson Group PLC now owns 4,401,402 shares of the company's stock worth $189,442,000 after purchasing an additional 2,474,220 shares during the last quarter. Vanguard Group Inc. boosted its position in LGN by 78.1% in the fourth quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company's stock valued at $138,919,000 after buying an additional 1,415,282 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in LGN in the 4th quarter worth approximately $69,438,000. Munro Partners increased its holdings in LGN by 1,875.9% in the 4th quarter. Munro Partners now owns 1,396,642 shares of the company's stock worth $60,111,000 after buying an additional 1,325,957 shares during the period. Finally, CI Investments Inc. raised its position in LGN by 2,209.7% during the 4th quarter. CI Investments Inc. now owns 788,287 shares of the company's stock worth $33,928,000 after buying an additional 754,157 shares during the last quarter.

About LGN

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.

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