LGN (NASDAQ:LGN) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of LGN (NASDAQ:LGN) have been assigned an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $88.40.

LGN has been the subject of several recent research reports. Zacks Research lowered shares of LGN from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Royal Bank Of Canada lifted their target price on shares of LGN from $48.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, March 30th. Barclays lifted their target price on shares of LGN from $60.00 to $80.00 and gave the company an “equal weight” rating in a report on Monday, June 22nd. Stifel Nicolaus lifted their target price on shares of LGN from $58.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, March 31st. Finally, BTIG Research lifted their target price on shares of LGN from $75.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, May 14th.

LGN Stock Down 0.7%

NASDAQ:LGN opened at $80.51 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a market capitalization of $8.70 billion and a P/E ratio of 350.04. LGN has a fifty-two week low of $26.96 and a fifty-two week high of $107.24. The stock’s 50 day moving average is $85.22.

LGN (NASDAQ:LGN) last posted its quarterly earnings results on Thursday, May 14th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The business had revenue of $1.04 billion for the quarter. The business’s revenue was up 105.2% compared to the same quarter last year. Research analysts forecast that LGN will post 1.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LGN

Hedge funds and other institutional investors have recently made changes to their positions in the business. Assetmark Inc. acquired a new stake in LGN during the 4th quarter valued at $31,000. Aster Capital Management DIFC Ltd acquired a new position in LGN during the 4th quarter worth $64,000. KBC Group NV acquired a new position in LGN during the 1st quarter worth $66,000. Kestra Advisory Services LLC acquired a new position in LGN during the 4th quarter worth $91,000. Finally, Clearstead Advisors LLC acquired a new position in LGN during the 4th quarter worth $140,000.

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.