BTIG Research Raises LGN (NASDAQ:LGN) Price Target to $120.00

LGN (NASDAQ:LGN) had its price target increased by analysts at BTIG Research from $75.00 to $120.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price target suggests a potential upside of 42.35% from the stock’s previous close.

LGN has been the topic of a number of other reports. Zacks Research downgraded shares of LGN from a “strong-buy” rating to a “hold” rating in a research note 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 stock an “outperform” rating in a research note on Monday, March 30th. Glj Research began coverage on shares of LGN in a research note on Tuesday, April 21st. They set a “buy” rating and a $99.00 target price on the stock. Guggenheim lifted their target price on shares of LGN from $53.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, March 26th. Finally, Weiss Ratings began coverage on shares of LGN in a research note on Wednesday, January 14th. They set a “sell (d+)” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $80.90.

LGN Trading Down 5.3%

NASDAQ:LGN opened at $84.30 on Thursday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.03. The stock has a 50-day simple moving average of $67.94. LGN has a twelve month low of $26.96 and a twelve month high of $107.24. The stock has a market capitalization of $9.11 billion and a P/E ratio of -8,430.00.

LGN (NASDAQ:LGN) last issued its earnings results on Thursday, May 14th. The company reported $0.13 EPS 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. On average, analysts expect that LGN will post 1.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC grew its holdings in shares of LGN by 128.4% in the fourth 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. grew its holdings in shares of LGN by 78.1% in the fourth quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company’s stock valued at $138,919,000 after purchasing an additional 1,415,282 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of LGN in the fourth quarter valued at approximately $69,438,000. Munro Partners grew its holdings in shares of 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 purchasing an additional 1,325,957 shares in the last quarter. Finally, CI Investments Inc. grew 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 purchasing an additional 754,157 shares in the last quarter.

Key LGN News

Here are the key news stories impacting LGN this week:

• Positive Sentiment: BMO Capital Markets raised its price target on Legence from $63 to $100 and reiterated an outperform rating, while BTIG lifted its target to $120 with a buy rating, signaling continued analyst confidence in the stock’s longer-term upside.
• Positive Sentiment: Legence reported record quarterly revenue of $1.04 billion, up 105% year over year, and record backlog and awards of $5.38 billion, suggesting demand remains strong and visibility is improving.
• Positive Sentiment: The company also raised full-year 2026 guidance for revenue and adjusted EBITDA, and set second-quarter revenue guidance above Wall Street expectations, which supports the growth narrative.
• Neutral Sentiment: Management’s Q1 earnings came in below consensus, with adjusted EPS of $0.13 versus the expected $0.19, even though revenue topped estimates.
• Negative Sentiment: Investors are reacting to margin compression, with consolidated gross margin falling year over year, which has raised concerns that profitability may not be scaling as quickly as revenue.
• Negative Sentiment: Some of the weakness also looks like a “sell-the-news” reaction after a strong pre-earnings run-up, as expectations had become elevated heading into the report.

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.