LGN (NASDAQ:LGN) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

LGN (NASDAQ:LGN) had its target price hoisted by research analysts at Stifel Nicolaus from $58.00 to $60.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 0.67% from the stock’s current price.

A number of other analysts have also weighed in on the stock. Guggenheim raised their price target on shares of LGN from $53.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, March 26th. Royal Bank Of Canada upped their price objective on LGN from $48.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday. BMO Capital Markets increased their price objective on LGN from $46.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday. Tigress Financial reissued a “buy” rating and issued a $60.00 target price on shares of LGN in a research note on Friday, March 27th. Finally, Weiss Ratings began coverage on LGN in a research report on Wednesday, January 14th. They set a “sell (d+)” rating for the company. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.25.

LGN Price Performance

Shares of NASDAQ:LGN opened at $59.60 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.57 and a current ratio of 1.57. LGN has a 12 month low of $26.96 and a 12 month high of $60.50. The stock’s 50-day moving average is $51.66.

LGN (NASDAQ:LGN) last announced its earnings results on Friday, March 27th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.60). The business had revenue of $737.64 million for the quarter, compared to the consensus estimate of $616.05 million. The firm’s quarterly revenue was up 34.5% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LGN. Janus Henderson Group PLC lifted its holdings in shares of LGN by 128.4% during the 4th quarter. Janus Henderson Group PLC now owns 4,401,402 shares of the company’s stock valued at $189,442,000 after purchasing an additional 2,474,220 shares in the last quarter. Vanguard Group Inc. raised its holdings in LGN by 78.1% during the 4th quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company’s stock worth $138,919,000 after buying an additional 1,415,282 shares during the period. Westfield Capital Management Co. LP bought a new position in LGN in the fourth quarter valued at approximately $69,438,000. Munro Partners lifted its stake in 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 holdings 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.

LGN Company Profile

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.