LGN (NASDAQ:LGN) Price Target Raised to $115.00 at Guggenheim

LGN (NASDAQ:LGN) had its target price increased by Guggenheim from $106.00 to $115.00 in a report issued on Friday morning,Benzinga reports. Guggenheim currently has a buy rating on the stock.

Several other brokerages also recently commented on LGN. Stifel Nicolaus lifted their target price on LGN from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. The Goldman Sachs Group raised their price target on LGN from $63.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LGN in a report on Friday, June 26th. Glj Research initiated coverage on shares of LGN in a report on Tuesday, April 21st. They issued a “buy” rating and a $99.00 price objective on the stock. Finally, Barclays increased their price objective on shares of LGN from $60.00 to $80.00 and gave the company an “equal weight” rating in a research report on Monday, June 22nd. One investment 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 currently has an average rating of “Moderate Buy” and a consensus target price of $93.10.

LGN Trading Down 0.4%

Shares of LGN stock traded down $0.31 during trading on Friday, hitting $73.66. 784,848 shares of the stock were exchanged, compared to its average volume of 1,584,514. The firm has a market cap of $7.96 billion and a PE ratio of 320.26. The stock has a fifty day moving average of $84.95. LGN has a 1-year low of $26.96 and a 1-year high of $107.24. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.30 and a quick ratio of 1.30.

LGN (NASDAQ:LGN) last issued its earnings results on Thursday, May 14th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06). The company had revenue of $1.04 billion for the quarter. The firm’s revenue for the quarter was up 105.2% on a year-over-year basis. Equities research analysts forecast that LGN will post 1.24 EPS for the current fiscal year.

Institutional Investors Weigh In On LGN

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC grew its stake in shares of LGN by 128.4% in the fourth quarter. Janus Henderson Group PLC now owns 4,401,402 shares of the company’s stock valued at $189,442,000 after acquiring an additional 2,474,220 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of LGN during the 4th quarter worth approximately $69,438,000. Vanguard Group Inc. raised its position 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 in the last quarter. Munro Partners raised its position in shares of LGN by 1,875.9% in the fourth quarter. Munro Partners now owns 1,396,642 shares of the company’s stock valued at $60,111,000 after buying an additional 1,325,957 shares in the last quarter. Finally, CI Investments Inc. boosted its stake in shares of LGN by 2,209.7% in the fourth quarter. CI Investments Inc. now owns 788,287 shares of the company’s stock valued at $33,928,000 after buying an additional 754,157 shares during the period.

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.