LGN (NASDAQ:LGN) Trading Down 5.8% – Time to Sell?

LGN (NASDAQ:LGN) shares were down 5.8% during mid-day trading on Thursday . The company traded as low as $82.62 and last traded at $82.8760. Approximately 868,926 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 1,473,470 shares. The stock had previously closed at $88.00.

Analyst Ratings Changes

A number of equities analysts have issued reports on LGN shares. BTIG Research increased their price objective on LGN from $75.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Guggenheim increased their price objective on LGN from $53.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, March 26th. The Goldman Sachs Group increased their price objective on LGN from $63.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Stifel Nicolaus raised their price target on LGN from $58.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, March 31st. Finally, Tigress Financial raised 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. One investment analyst has rated the stock with a Strong Buy rating, eight have issued 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 presently has an average rating of “Moderate Buy” and an average target price of $86.40.

LGN Stock Down 5.2%

The company has a debt-to-equity ratio of 1.06, a current ratio of 1.30 and a quick ratio of 1.30. The firm’s fifty day simple moving average is $73.04. The company has a market cap of $9.01 billion and a PE ratio of 362.54.

LGN (NASDAQ:LGN) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). The company had revenue of $1.04 billion during the quarter. The company’s revenue was up 105.2% compared to the same quarter last year. Sell-side analysts anticipate that LGN will post 1.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LGN

Institutional investors have recently modified their holdings of the business. Assetmark Inc. purchased a new stake in shares of LGN during the fourth quarter valued at $31,000. KBC Group NV purchased a new stake in shares of LGN during the first quarter valued at $66,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of LGN during the fourth quarter valued at $64,000. Kestra Advisory Services LLC purchased a new stake in shares of LGN during the fourth quarter valued at $91,000. Finally, Clearstead Advisors LLC purchased a new stake in shares of LGN during the fourth quarter valued at $140,000.

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.