LGN (NASDAQ:LGN) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Key Points

• Goldman Sachs raised its price target on LGN to $72 and maintained a "buy" rating, implying about a 3.54% upside from the current share price, while the analyst consensus across firms is a "Moderate Buy" with a $63.38 target.
• LGN reported a quarterly EPS miss (‑$0.55 vs. $0.05 expected) but beat on revenue with $737.6M, up 34.5% year‑over‑year, and the stock is trading near its 12‑month high (~$69.5) with a $7.51B market cap.

LGN (NASDAQ:LGN - Get Free Report) had its price target lifted by The Goldman Sachs Group from $63.00 to $72.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's price objective would suggest a potential upside of 3.54% from the stock's current price.

Several other equities research analysts have also recently issued reports on the company. Zacks Research cut LGN from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 26th. Guggenheim raised their price objective on LGN from $53.00 to $68.00 and gave the stock a "buy" rating in a report on Thursday, March 26th. Barclays increased their price objective on shares of LGN from $37.00 to $45.00 and gave the stock an "equal weight" rating in a report on Friday, January 23rd. Stifel Nicolaus increased their price objective on shares of LGN from $58.00 to $60.00 and gave the stock a "buy" rating in a report on Tuesday, March 31st. Finally, BMO Capital Markets increased their price objective on shares of LGN from $46.00 to $63.00 and gave the stock an "outperform" rating in a report on Monday, March 30th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.38.

LGN Price Performance

Shares of NASDAQ LGN opened at $69.54 on Thursday. The stock has a market capitalization of $7.51 billion and a P/E ratio of -6,954.00. LGN has a 12 month low of $26.96 and a 12 month high of $69.66. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.03. The business's 50-day moving average price is $54.01.

LGN (NASDAQ:LGN - Get Free Report) last issued its quarterly earnings results on Friday, March 27th. The company reported ($0.55) EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.60). The firm had revenue of $737.64 million for the quarter, compared to analyst estimates of $616.05 million. The firm's quarterly revenue was up 34.5% compared to the same quarter last year.

Institutional Trading of LGN

Institutional investors and hedge funds have recently made changes to their positions in the company. Assetmark Inc. purchased a new stake in shares of LGN during the 4th quarter worth about $31,000. Aster Capital Management DIFC Ltd acquired a new position in shares of LGN during the 4th quarter valued at $64,000. Clearbridge Investments LLC lifted its holdings in shares of LGN by 0.4% during the 4th quarter. Clearbridge Investments LLC now owns 401,667 shares of the company's stock valued at $17,288,000 after acquiring an additional 1,667 shares in the last quarter. Symmetry Investments LP lifted its holdings in shares of LGN by 21.9% during the 4th quarter. Symmetry Investments LP now owns 9,750 shares of the company's stock valued at $420,000 after acquiring an additional 1,750 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of LGN during the 4th quarter valued at $91,000.

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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