Tigress Financial Issues Positive Forecast for LGN (NASDAQ:LGN) Stock Price

Key Points

• Tigress Financial raised its target price on LGN from $60 to $85 and kept a "buy" rating, implying about a 26.8% upside from the current price.
• The analyst consensus is a Moderate Buy with a $66.50 consensus target after multiple firms (BMO, BTIG, Goldman) lifted their price targets, though Weiss Ratings issued a sell.
• Shares fell 3.6% to $67.03 after LGN missed EPS expectations (-$0.55 vs. $0.05) but beat revenue forecasts with 34.5% year‑over‑year sales growth, while several institutional investors markedly increased their stakes.

LGN (NASDAQ:LGN - Get Free Report) had its target price lifted by equities researchers at Tigress Financial from $60.00 to $85.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. Tigress Financial's target price indicates a potential upside of 26.82% from the stock's current price.

LGN has been the subject of a number of other research reports. BMO Capital Markets upped their price objective on shares of LGN from $46.00 to $63.00 and gave the stock an "outperform" rating in a research report on Monday, March 30th. BTIG Research upped their price target on shares of LGN from $45.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, March 27th. Stifel Nicolaus lifted their price objective on shares of LGN from $58.00 to $60.00 and gave the company a "buy" rating in a research note on Tuesday, March 31st. Weiss Ratings assumed coverage on shares of LGN in a research note on Wednesday, January 14th. They issued a "sell (d+)" rating on the stock. Finally, The Goldman Sachs Group lifted their price objective on shares of LGN from $63.00 to $72.00 and gave the company a "buy" rating in a research note on Thursday. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $66.50.

LGN Stock Down 3.6%

Shares of NASDAQ LGN traded down $2.52 during trading on Thursday, reaching $67.03. 1,053,256 shares of the stock were exchanged, compared to its average volume of 1,384,565. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.03. The business's 50-day moving average price is $54.01. The company has a market cap of $7.24 billion and a P/E ratio of -6,700.70. LGN has a twelve month low of $26.96 and a twelve month high of $70.35.

LGN (NASDAQ:LGN - Get Free Report) last posted its quarterly earnings results on Friday, March 27th. The company reported ($0.55) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.60). The business had revenue of $737.64 million for the quarter, compared to analysts' expectations of $616.05 million. The business's quarterly revenue was up 34.5% on a year-over-year basis.

Institutional Investors Weigh In On LGN

Several hedge funds and other institutional investors have recently modified their holdings of LGN. Janus Henderson Group PLC boosted its holdings in LGN by 128.4% in the 4th quarter. Janus Henderson Group PLC now owns 4,401,402 shares of the company's stock valued at $189,442,000 after purchasing an additional 2,474,220 shares during the period. Vanguard Group Inc. boosted its holdings in shares of LGN by 78.1% in 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 period. Westfield Capital Management Co. LP bought a new stake in LGN during the fourth quarter worth $69,438,000. Munro Partners grew its stake in LGN by 1,875.9% during the fourth quarter. Munro Partners now owns 1,396,642 shares of the company's stock worth $60,111,000 after buying an additional 1,325,957 shares in the last quarter. Finally, CI Investments Inc. grew its holdings 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 valued at $33,928,000 after purchasing 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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