LGN (NASDAQ:LGN) Price Target Raised to $120.00

LGN (NASDAQ:LGN) had its target price boosted by analysts at BTIG Research from $75.00 to $120.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price objective suggests a potential upside of 35.74% from the company’s current price.

LGN has been the topic of a number of other reports. Glj Research initiated coverage on LGN in a research note on Tuesday, April 21st. They issued a “buy” rating and a $99.00 target price on the stock. Tigress Financial upped their target price on LGN from $60.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Loop Capital initiated coverage on LGN in a research note on Wednesday, April 29th. They issued a “buy” rating and a $96.00 target price on the stock. Royal Bank Of Canada upped their target price on LGN from $48.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Finally, Guggenheim upped their target price on LGN from $53.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, LGN has a consensus rating of “Moderate Buy” and an average target price of $77.20.

LGN Stock Down 11.6%

Shares of NASDAQ:LGN traded down $11.59 during midday trading on Thursday, reaching $88.41. 1,668,103 shares of the company traded hands, compared to its average volume of 1,469,302. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.03. LGN has a 12 month low of $26.96 and a 12 month high of $107.24. The company has a market capitalization of $9.55 billion and a price-to-earnings ratio of -8,840.70. The business’s fifty day moving average price is $66.67.

LGN (NASDAQ:LGN) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The company had revenue of $1.04 billion during the quarter. The business’s quarterly revenue was up 105.2% on a year-over-year basis. Analysts forecast that LGN will post 1.31 earnings per share for the current year.

Hedge Funds Weigh In On LGN

Institutional investors have recently modified their holdings of the company. Assetmark Inc. bought a new position in shares of LGN during the 4th quarter valued at about $31,000. KBC Group NV bought a new position in shares of LGN during the 1st quarter valued at about $66,000. Aster Capital Management DIFC Ltd bought a new position in shares of LGN during the 4th quarter valued at about $64,000. Kestra Advisory Services LLC bought a new position in shares of LGN during the 4th quarter valued at about $91,000. Finally, Clearstead Advisors LLC bought a new position in shares of LGN during the 4th quarter valued at about $140,000.

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.