LGN (NASDAQ:LGN) Receives $86.40 Average PT from Brokerages

Shares of LGN (NASDAQ:LGN) have earned an average rating of “Moderate Buy” from the twelve analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $86.40.

A number of research analysts recently weighed in on LGN shares. Loop Capital assumed coverage on shares of LGN in a research report on Wednesday, April 29th. They set a “buy” rating and a $96.00 price objective on the stock. BMO Capital Markets increased their price objective on shares of LGN from $63.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Barclays increased their price objective on shares of LGN from $45.00 to $60.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 19th. Royal Bank Of Canada increased their price objective on shares of LGN from $48.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. Finally, Glj Research began coverage on LGN in a research note on Tuesday, April 21st. They issued a “buy” rating and a $99.00 price target on the stock.

Institutional Trading of LGN

A number of hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its position in LGN by 161.4% during the first quarter. Bank of America Corp DE now owns 680,217 shares of the company’s stock valued at $38,405,000 after acquiring an additional 419,997 shares during the last quarter. Value Aligned Research Advisors LLC increased its position in LGN by 22.4% during the first quarter. Value Aligned Research Advisors LLC now owns 308,141 shares of the company’s stock valued at $17,398,000 after acquiring an additional 56,460 shares during the last quarter. Royal Bank of Canada increased its position in LGN by 662.4% during the first quarter. Royal Bank of Canada now owns 22,856 shares of the company’s stock valued at $1,290,000 after acquiring an additional 19,858 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in LGN by 57.9% during the first quarter. The Manufacturers Life Insurance Company now owns 18,129 shares of the company’s stock valued at $1,024,000 after acquiring an additional 6,647 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in LGN by 87.6% during the first quarter. Renaissance Technologies LLC now owns 579,700 shares of the company’s stock valued at $32,730,000 after acquiring an additional 270,615 shares during the last quarter.

LGN Stock Up 1.6%

NASDAQ:LGN opened at $85.04 on Tuesday. The firm’s 50 day moving average price is $78.37. LGN has a 52 week low of $26.96 and a 52 week high of $107.24. 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 stock has a market capitalization of $9.19 billion and a PE ratio of 369.74.

LGN (NASDAQ:LGN) last posted its quarterly 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 firm had revenue of $1.04 billion for the quarter. The company’s revenue was up 105.2% on a year-over-year basis. As a group, sell-side analysts anticipate that LGN will post 1.24 earnings per share for the current year.

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.