Royal Bank Of Canada Lowers LGN (NASDAQ:LGN) Price Target to $101.00

LGN (NASDAQ:LGN) had its price target dropped by Royal Bank Of Canada from $106.00 to $101.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 34.90% from the company’s current price.

Several other equities analysts also recently issued reports on the company. Loop Capital started coverage on LGN in a research report on Wednesday, April 29th. They issued a “buy” rating and a $96.00 price objective for the company. Barclays increased their target price on LGN from $60.00 to $80.00 and gave the stock an “equal weight” rating in a report on Monday, June 22nd. Tigress Financial lifted their price target on LGN from $85.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. Stifel Nicolaus upped their price target on shares of LGN from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, March 31st. Finally, The Goldman Sachs Group upped their price target on shares of LGN from $63.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.80.

LGN Trading Up 2.7%

NASDAQ LGN opened at $74.87 on Wednesday. LGN has a 1-year low of $26.96 and a 1-year high of $107.24. The business’s 50 day moving average price is $80.23. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $8.09 billion and a price-to-earnings ratio of 325.52.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LGN. Assetmark Inc. acquired a new position in shares of LGN during the fourth quarter valued at $31,000. KBC Group NV bought a new position in LGN in the first quarter valued at about $66,000. Aster Capital Management DIFC Ltd acquired a new stake in LGN in the fourth quarter worth about $64,000. Clearbridge Investments LLC increased its position in LGN by 0.4% in the fourth quarter. Clearbridge Investments LLC now owns 401,667 shares of the company’s stock worth $17,288,000 after purchasing an additional 1,667 shares during the period. Finally, Symmetry Investments LP increased its position in LGN by 21.9% in the fourth quarter. Symmetry Investments LP now owns 9,750 shares of the company’s stock worth $420,000 after purchasing an additional 1,750 shares during the period.

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.