BTIG Research Has Lowered Expectations for LGN (NASDAQ:LGN) Stock Price

LGN (NASDAQ:LGN) had its target price cut by research analysts at BTIG Research from $100.00 to $60.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research‘s price objective points to a potential upside of 71.43% from the stock’s current price.

Other analysts have also issued research reports about the stock. Stifel Nicolaus lowered their target price on shares of LGN from $101.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, October 8th. Zacks Research downgraded shares of LGN from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 16th. Guggenheim restated a “buy” rating and issued a $90.00 price target on shares of LGN in a research report on Monday, October 26th. BMO Capital Markets lifted their price target on shares of LGN from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Finally, Tigress Financial boosted their price objective on shares of LGN from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, LGN has a consensus rating of “Moderate Buy” and an average price target of $93.33.

LGN Stock Performance

Shares of LGN traded down $1.27 during mid-day trading on Friday, hitting $35.00. The stock had a trading volume of 2,388,289 shares, compared to its average volume of 2,184,551. The company has a market cap of $3.78 billion, a PE ratio of 97.22 and a beta of 3.42. The company’s fifty day simple moving average is $46.11 and its two-hundred day simple moving average is $62.22. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.03. LGN has a fifty-two week low of $23.90 and a fifty-two week high of $107.24.

LGN (NASDAQ:LGN) last issued its quarterly earnings results on Thursday, November 12th. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.65. The business had revenue of $1.31 billion during the quarter. LGN had a return on equity of 14.08% and a net margin of 1.04%. On average, equities analysts expect that LGN will post 1.36 earnings per share for the current year.

Insider Buying and Selling at LGN

In related news, CAO Bris Philippe Le sold 1,058 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $55.01, for a total value of $58,200.58. Following the sale, the chief accounting officer owned 4,749 shares of the company’s stock, valued at approximately $261,242.49. This trade represents a 18.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.01% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Value Aligned Research Advisors LLC grew its position in shares of LGN by 22.4% during the first quarter. Value Aligned Research Advisors LLC now owns 308,141 shares of the company’s stock worth $17,398,000 after acquiring an additional 56,460 shares during the last quarter. WINTON GROUP Ltd increased its holdings in shares of LGN by 174.0% in the 2nd quarter. WINTON GROUP Ltd now owns 83,300 shares of the company’s stock worth $7,100,000 after acquiring an additional 52,904 shares during the period. Allianz Asset Management GmbH bought a new stake in LGN in the 2nd quarter valued at about $1,568,000. Renaissance Technologies LLC lifted its position in LGN by 87.6% in the 1st quarter. Renaissance Technologies LLC now owns 579,700 shares of the company’s stock valued at $32,730,000 after purchasing an additional 270,615 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in LGN in the 3rd quarter valued at about $3,950,000.

Latest LGN News

Investors following LGN have been watching these news items:

• Positive Sentiment: The board authorized a $150 million share repurchase program, which could support shareholder returns. Legence earnings outlook and buyback
• Neutral Sentiment: BTIG lowered its price target from $100 to $60 but maintained a Buy rating. The cut is a more cautious valuation signal, although the new target remains above the cited share price. BTIG Research ratings
• Negative Sentiment: LGN traded lower despite beating Q3 estimates and raising guidance, indicating the strong report did not immediately translate into buying interest. Legence shares trade lower after earnings

LGN Company Profile

Legence Corp. provides engineering, installation and maintenance services for building systems. Its work includes heating, ventilation and air conditioning, plumbing, electrical systems, process piping, building automation and energy solutions. The company serves customers with complex building needs, including in the data center, healthcare, life sciences, commercial and industrial sectors. Its services span the building lifecycle, from design and construction to ongoing operations and maintenance.