LGN (NASDAQ:LGN) Given New $101.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada lowered its price target on LGN from $106 to $101 but kept an outperform rating, implying about 41% upside from the prior close.
• LGN shares were down 1.3% to $71.60, while the stock has traded between $26.96 and $107.24 over the past 12 months.
• The company recently reported Q1 earnings of $0.13 per share, missing estimates, even as revenue rose 105.2% year over year to $1.04 billion.

LGN (NASDAQ:LGN - Get Free Report) had its price objective decreased by equities researchers at Royal Bank Of Canada from $106.00 to $101.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's price target suggests a potential upside of 41.06% from the stock's previous close.

A number of other equities analysts have also issued reports on the company. BTIG Research raised their target price on LGN from $75.00 to $120.00 and gave the stock a "buy" rating in a research note on Thursday, May 14th. Stifel Nicolaus raised their target price on shares of LGN from $58.00 to $60.00 and gave the stock a "buy" rating in a research note on Tuesday, March 31st. Loop Capital initiated coverage on LGN in a report on Wednesday, April 29th. They set a "buy" rating and a $96.00 price target on the stock. The Goldman Sachs Group raised their target price on LGN from $63.00 to $72.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Finally, Zacks Research cut shares of LGN from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, LGN currently has an average rating of "Moderate Buy" and an average price target of $96.80.

LGN Trading Down 1.3%

LGN traded down $0.95 during trading hours on Wednesday, hitting $71.60. The company's stock had a trading volume of 77,139 shares, compared to its average volume of 1,484,426. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.06. LGN has a 12 month low of $26.96 and a 12 month high of $107.24. The firm has a 50-day moving average of $81.06. The firm has a market cap of $7.74 billion and a PE ratio of 311.24.

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

Institutional Trading of LGN

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

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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