LGN (NASDAQ:LGN) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of LGN (NASDAQ:LGN) from a hold rating to a buy rating in a report published on Saturday morning,Wall Street Zen reports.

LGN has been the topic of several other research reports. Zacks Research downgraded shares of LGN from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 16th. Weiss Ratings downgraded shares of LGN from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 30th. Bank of America raised their price target on shares of LGN from $105.00 to $116.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Sanford C. Bernstein restated an “outperform” rating on shares of LGN in a report on Friday. Finally, Royal Bank Of Canada lowered their price objective on LGN from $101.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, October 15th. One 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.33.

LGN Stock Down 3.5%

Shares of LGN traded down $1.27 during trading hours on Friday, hitting $35.00. The company had a trading volume of 2,388,289 shares, compared to its average volume of 2,184,551. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 97.22 and a beta of 3.42. The firm has a fifty day moving average price of $46.11 and a 200-day moving average price of $62.22. LGN has a 52-week low of $23.90 and a 52-week high of $107.24. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.35 and a current ratio of 1.35.

LGN (NASDAQ:LGN) last announced its quarterly earnings data on Thursday, November 12th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.50 by $0.65. The company had revenue of $1.31 billion for the quarter. LGN had a net margin of 1.04% and a return on equity of 14.08%. On average, equities research analysts forecast that LGN will post 1.36 EPS for the current fiscal year.

Insider Transactions at LGN

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

Institutional Investors Weigh In On LGN

A number of hedge funds have recently added to or reduced their stakes in LGN. Allworth Financial LP boosted its stake in shares of LGN by 1,887.5% in the 3rd quarter. Allworth Financial LP now owns 477 shares of the company’s stock worth $26,000 after buying an additional 453 shares during the last quarter. Reyes Financial Architecture Inc. bought a new stake in shares of LGN in the third quarter worth $45,000. Global Retirement Partners LLC purchased a new stake in LGN during the third quarter valued at $58,000. KBC Group NV purchased a new stake in LGN during the first quarter valued at $66,000. Finally, Nykredit A S purchased a new stake in LGN during the second quarter valued at $128,000.

Key Stories Impacting LGN

These are some of the LGN stories that stood out recently:

• Positive Sentiment: Q3 adjusted earnings were $1.15 per share, well above estimates of about $0.50–$0.57, and revenue of $1.31 billion topped expectations of roughly $1.26–$1.27 billion. Revenue grew 85% year over year, while adjusted EBITDA rose 99%. Legence Q3 financial results
• 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

About LGN

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.