LGN (NASDAQ:LGN) Price Target Raised to $130.00 at Tigress Financial

Key Points

• Tigress Financial raised LGN’s price target to $130 from $125 and maintained a “buy” rating, implying approximately 101% upside from the stock’s $64.70 price.
• Analyst sentiment remains broadly positive, with LGN holding a consensus “Moderate Buy” rating and an average price target of $99.50, despite mixed revisions from other firms.
• LGN reported quarterly revenue of $1.26 billion but missed EPS expectations, posting a loss of $0.37 per share versus the expected $0.26 profit.

LGN (NASDAQ:LGN - Get Free Report) had its price objective lifted by research analysts at Tigress Financial from $125.00 to $130.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Tigress Financial's price objective would suggest a potential upside of 100.93% from the stock's current price.

Several other equities analysts also recently commented on the stock. Weiss Ratings raised shares of LGN from a "sell (d-)" rating to a "sell (d+)" rating in a research note on Friday. BTIG Research reaffirmed a "buy" rating and issued a $100.00 price target (down from $120.00) on shares of LGN in a research note on Friday, August 14th. Guggenheim restated a "buy" rating and issued a $115.00 price objective on shares of LGN in a report on Tuesday. Barclays raised their target price on shares of LGN from $60.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Monday, June 22nd. Finally, BMO Capital Markets boosted their price target on shares of LGN from $100.00 to $105.00 and gave the company an "outperform" rating in a research report on Friday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $99.50.

LGN Price Performance

Shares of LGN traded up $1.04 during trading hours on Wednesday, reaching $64.70. 366,266 shares of the company's stock traded hands, compared to its average volume of 1,467,457. LGN has a 12 month low of $26.96 and a 12 month high of $107.24. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.03. The stock has a market cap of $6.99 billion and a PE ratio of 161.69. The firm's 50 day simple moving average is $73.03 and its 200-day simple moving average is $68.75.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC lifted its stake in shares of LGN by 128.4% in the 4th 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 period. Vanguard Group Inc. increased its holdings in LGN by 78.1% during 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 bought a new position in LGN in the fourth quarter worth approximately $69,438,000. Munro Partners raised its position in LGN by 1,875.9% in the fourth quarter. Munro Partners now owns 1,396,642 shares of the company's stock worth $60,111,000 after acquiring an additional 1,325,957 shares during the period. Finally, CI Investments Inc. boosted its stake in shares of 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 acquiring 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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