LGN (NASDAQ:LGN) Given "Buy" Rating at Guggenheim

Key Points

• Guggenheim reaffirmed a “Buy” rating on LGN and set a $115 price target, implying 64.19% upside from the prior close.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $99.08; several firms recently raised their targets, including Tigress Financial to $125.
• LGN shares opened at $70.04 after gaining 5.5%, while the company’s latest quarterly results missed expectations, reporting a $0.37 loss per share versus the forecasted $0.26 profit.

LGN (NASDAQ:LGN - Get Free Report)'s stock had its "buy" rating restated by analysts at Guggenheim in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $115.00 price target on the stock. Guggenheim's price target would suggest a potential upside of 64.19% from the stock's previous close.

LGN has been the topic of several other reports. Bank of America increased their target price on shares of LGN from $105.00 to $116.00 and gave the stock a "buy" rating in a research note on Friday. Roth Capital reaffirmed a "buy" rating and issued a $120.00 price target on shares of LGN in a report on Wednesday, August 12th. Tigress Financial lifted their price objective on LGN from $85.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, May 19th. Glj Research started coverage on LGN in a research report on Tuesday, April 21st. They set a "buy" rating and a $99.00 target price for the company. Finally, Royal Bank Of Canada lowered their price target on LGN from $106.00 to $101.00 and set an "outperform" rating on the stock in a report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $99.08.

LGN Stock Up 5.5%

LGN stock opened at $70.04 on Tuesday. 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 firm has a market capitalization of $7.57 billion and a PE ratio of 304.52. LGN has a twelve month low of $26.96 and a twelve month high of $107.24. The stock has a 50-day simple moving average of $73.47 and a two-hundred day simple moving average of $68.67.

LGN (NASDAQ:LGN - Get Free Report) last announced its quarterly 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). 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. On average, equities analysts predict that LGN will post 1.24 EPS for the current fiscal year.

Hedge Funds Weigh In On LGN

A number of large investors have recently modified their holdings of LGN. Value Aligned Research Advisors LLC lifted its holdings in shares of LGN by 22.4% in the 1st quarter. Value Aligned Research Advisors LLC now owns 308,141 shares of the company's stock worth $17,398,000 after acquiring an additional 56,460 shares during the last quarter. Pictet Asset Management Holding SA bought a new position in shares of LGN during the 4th quarter valued at $1,722,000. Renaissance Technologies LLC grew its holdings in shares of LGN by 87.6% during the 1st quarter. Renaissance Technologies LLC now owns 579,700 shares of the company's stock valued at $32,730,000 after purchasing an additional 270,615 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in LGN in the 4th quarter worth $3,179,000. Finally, Allspring Global Investments Holdings LLC raised its position in LGN by 65.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 176,251 shares of the company's stock worth $9,951,000 after purchasing an additional 69,914 shares during the period.

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.

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