LGN (NASDAQ:LGN) Shares Up 4.5% - Should You Buy?

Key Points

• LGN shares rose 4.5% to about $55.44, although trading volume was 97% below the stock’s average daily volume.
• Analysts remain broadly bullish, with a “Moderate Buy” consensus rating and an average price target of $99.50, implying substantial upside from the current price.
• The company recently reported a quarterly loss of $0.37 per share, missing expectations by $0.63, while generating $1.26 billion in revenue; LGN trades at a high P/E ratio of 138.70.

LGN (NASDAQ:LGN - Get Free Report) shares rose 4.5% during trading on Wednesday . The company traded as high as $55.70 and last traded at $55.4410. 46,655 shares changed hands during trading, a decline of 97% from the average daily volume of 1,399,181 shares. The stock had previously closed at $53.03.

Wall Street Analyst Weigh In

LGN has been the subject of several research reports. Royal Bank Of Canada reduced their target price on shares of LGN from $106.00 to $101.00 and set an "outperform" rating for the company in a research note on Wednesday, July 22nd. BMO Capital Markets boosted their price target on LGN from $100.00 to $105.00 and gave the company an "outperform" rating in a research note on Friday, August 14th. Zacks Research upgraded LGN from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 17th. BTIG Research reiterated a "buy" rating and issued a $100.00 price objective (down from $120.00) on shares of LGN in a research report on Friday, August 14th. Finally, Bank of America lifted their price objective on LGN from $105.00 to $116.00 and gave the stock a "buy" rating in a 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 assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $99.50.

LGN Stock Up 4.3%

The business's fifty day moving average price is $62.47 and its 200 day moving average price is $69.54. The company has a market capitalization of $5.98 billion and a P/E ratio of 138.70. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.03.

LGN (NASDAQ:LGN - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported ($0.37) earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.63). LGN had a negative net margin of 1.20% and a positive return on equity of 4.33%. The business had revenue of $1.26 billion during the quarter. As a group, equities research analysts predict that LGN will post 1.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LGN

Several large investors have recently modified their holdings of LGN. Value Aligned Research Advisors LLC raised its stake in shares of LGN by 22.4% in the first quarter. Value Aligned Research Advisors LLC now owns 308,141 shares of the company's stock valued at $17,398,000 after acquiring an additional 56,460 shares during the last quarter. Renaissance Technologies LLC grew its position in LGN by 87.6% during the 1st quarter. Renaissance Technologies LLC now owns 579,700 shares of the company's stock worth $32,730,000 after acquiring an additional 270,615 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in LGN during the 2nd quarter worth approximately $1,568,000. WINTON GROUP Ltd increased its holdings in LGN by 174.0% during the 2nd quarter. WINTON GROUP Ltd now owns 83,300 shares of the company's stock valued at $7,100,000 after purchasing an additional 52,904 shares in the last quarter. Finally, Swiss National Bank acquired a new stake in LGN during the 1st quarter valued at $4,500,000.

LGN Company Profile

Legence Corporation NASDAQ: LGN is an energy-transition and building-solutions company that helps commercial, industrial, institutional and infrastructure customers improve energy efficiency, reduce emissions and manage complex facility requirements. The company delivers integrated services intended to support decarbonization, electrification and broader sustainability initiatives.

Its capabilities include engineering, construction, operation and maintenance of building and energy systems.

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