LGN (NASDAQ:LGN) Price Target Raised to $130.00

LGN (NASDAQ:LGN) had its price target boosted by Tigress Financial from $125.00 to $130.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Tigress Financial’s price target suggests a potential upside of 100.93% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock. BMO Capital Markets raised their target price on shares of LGN from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Weiss Ratings upgraded LGN from a “sell (d-)” rating to a “sell (d+)” rating in a report on Friday. Loop Capital began coverage on LGN in a research report on Wednesday, April 29th. They set a “buy” rating and a $96.00 target price on the stock. Royal Bank Of Canada decreased their price target on LGN from $106.00 to $101.00 and set an “outperform” rating on the stock in a report on Wednesday, July 22nd. Finally, BTIG Research restated a “buy” rating and set a $100.00 target price (down from $120.00) on shares of LGN in a research report on Friday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $99.50.

LGN Price Performance

Shares of LGN stock traded up $1.04 on Wednesday, hitting $64.70. 366,266 shares of the stock traded hands, compared to its average volume of 1,467,457. The firm has a market cap of $6.99 billion and a price-to-earnings ratio of 161.69. LGN has a 52 week low of $26.96 and a 52 week high of $107.24. The firm has a 50 day simple moving average of $73.03 and a two-hundred day simple moving average of $68.75. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.35 and a quick ratio of 1.35.

LGN (NASDAQ:LGN) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.63). LGN had a negative net margin of 1.20% and a positive return on equity of 4.33%. The business had revenue of $1.26 billion for the quarter. As a group, equities research analysts predict that LGN will post 1.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LGN. Avior Wealth Management LLC purchased a new stake in LGN in the second quarter valued at approximately $203,000. Bank of America Corp DE raised its stake in shares of LGN by 161.4% during the 1st quarter. Bank of America Corp DE now owns 680,217 shares of the company’s stock worth $38,405,000 after buying an additional 419,997 shares during the period. Value Aligned Research Advisors LLC lifted its position in shares of LGN by 22.4% during the 1st quarter. Value Aligned Research Advisors LLC now owns 308,141 shares of the company’s stock valued at $17,398,000 after buying an additional 56,460 shares in the last quarter. Royal Bank of Canada increased its stake in LGN by 662.4% during the 1st quarter. Royal Bank of Canada now owns 22,856 shares of the company’s stock worth $1,290,000 after buying an additional 19,858 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of LGN by 57.9% during the first quarter. The Manufacturers Life Insurance Company now owns 18,129 shares of the company’s stock valued at $1,024,000 after acquiring an additional 6,647 shares during the last quarter.

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.