LGN (NASDAQ:LGN) Reaches New 52-Week Low - Here's Why

Key Points

• LGN plunged to a new 52-week low, falling 21.7% from its prior close of $32.13; the article reported a last trade of $26.784.
• The company reported a quarterly loss of $0.37 per share, missing expectations for earnings of $0.26 per share, on revenue of $1.26 billion.
• Analyst sentiment remained broadly positive, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of $96.67, though several analysts recently cut their targets.

LGN (NASDAQ:LGN - Get Free Report)'s share price hit a new 52-week low during trading on Thursday. The stock traded as low as $28.18 and last traded at $26.7840, with a volume of 130,145 shares trading hands. The stock had previously closed at $32.13.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on LGN shares. Stifel Nicolaus dropped their price objective on LGN from $101.00 to $82.00 and set a "buy" rating for the company in a research note on Thursday, October 8th. Roth Capital reissued a "buy" rating and set a $120.00 target price on shares of LGN in a research note on Wednesday, August 12th. Tigress Financial raised their target price on LGN from $125.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, August 19th. Barclays dropped their target price on LGN from $80.00 to $60.00 and set an "equal weight" rating for the company in a research report on Monday, October 19th. Finally, Royal Bank Of Canada cut their price target on shares of LGN from $101.00 to $90.00 and set an "outperform" rating on the stock in a research note on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, LGN has an average rating of "Moderate Buy" and an average price target of $96.67.

LGN Trading Down 21.7%

The company has a debt-to-equity ratio of 1.03, a current ratio of 1.35 and a quick ratio of 1.35. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 62.98 and a beta of 3.42. The business's 50 day simple moving average is $49.16 and its 200 day simple moving average is $62.81.

LGN (NASDAQ:LGN - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.63). The business 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%. Research analysts anticipate that LGN will post 1.36 EPS for the current year.

Insiders Place Their Bets

In other LGN news, CAO Bris Philippe Le sold 4,196 shares of the business's stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $54.06, for a total transaction of $226,835.76. Following the completion of the sale, the chief accounting officer directly owned 6,148 shares in the company, valued at $332,360.88. The trade was a 40.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.01% of the company's stock.

Institutional Trading of LGN

Several institutional investors have recently added to or reduced their stakes in the stock. Reyes Financial Architecture Inc. bought a new stake in LGN in the third quarter valued at about $45,000. KBC Group NV acquired a new position in LGN in the first quarter worth about $66,000. Nykredit A S bought a new position in LGN during the second quarter worth about $128,000. Avior Wealth Management LLC bought a new position in LGN during the second quarter worth about $203,000. Finally, Concurrent Investment Advisors LLC bought a new position in LGN during the second quarter worth about $237,000.

LGN Company Profile

Legence Corp. NASDAQ: LGN is an energy-transition solutions provider that helps commercial, industrial and institutional customers improve building performance, reduce energy use and advance decarbonization goals. The company combines technical expertise, project delivery and operational services to address the energy and sustainability needs of complex facilities and infrastructure.

Its services include engineering and design, energy-efficiency improvements, building systems and infrastructure work, renewable-energy and electrification projects, sustainability consulting, and ongoing operations and maintenance.

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