LGN (NASDAQ:LGN) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• LGN has a consensus analyst rating of “Moderate Buy”, based on coverage from 12 research firms. The average 12-month price target is $93.10.
• Recent analyst actions have been mostly bullish, including new or raised price targets from Glj Research, Loop Capital, Tigress Financial, Guggenheim, and RBC. Several of those firms issued buy ratings.
• LGN most recently reported revenue of $1.04 billion, up 105.2% year over year, but earnings missed expectations at $0.13 per share versus the $0.19 consensus. The stock was trading at $72.55, below its recent analyst price targets and its 52-week high of $107.24.

Shares of LGN (NASDAQ:LGN - Get Free Report) have received an average rating of "Moderate Buy" from the twelve research firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $93.10.

Several research analysts recently commented on the company. Glj Research initiated coverage on LGN in a research note on Tuesday, April 21st. They issued a "buy" rating and a $99.00 price target on the stock. Loop Capital started coverage on LGN in a research note on Wednesday, April 29th. They set a "buy" rating and a $96.00 price objective for the company. Tigress Financial lifted their price objective on LGN from $85.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, May 19th. Guggenheim upped their target price on LGN from $106.00 to $115.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Finally, Royal Bank Of Canada upped their target price on LGN from $48.00 to $64.00 and gave the company an "outperform" rating in a research report on Monday, March 30th.

Institutional Trading of LGN

Several institutional investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. bought a new position in LGN during the 4th quarter valued at $1,220,000. Assetmark Inc. acquired a new position in LGN during the 4th quarter worth $31,000. Freestone Capital Holdings LLC bought a new stake in shares of LGN in the 4th quarter worth about $1,153,000. Capelight Capital Asset Management LP bought a new stake in shares of LGN in the 4th quarter worth about $4,089,000. Finally, LBP AM SA acquired a new stake in shares of LGN in the 4th quarter valued at about $2,887,000.

LGN Price Performance

LGN stock opened at $72.55 on Wednesday. LGN has a 12-month low of $26.96 and a 12-month high of $107.24. The stock has a market cap of $7.84 billion and a P/E ratio of 315.43. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.30 and a quick ratio of 1.30. The business's fifty day moving average price is $81.06.

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. LGN's revenue was up 105.2% compared to the same quarter last year. Analysts forecast that LGN will post 1.24 earnings per share for the current fiscal year.

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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