Bank of America Issues Positive Forecast for LGN (NASDAQ:LGN) Stock Price

LGN (NASDAQ:LGN) had its target price upped by Bank of America from $105.00 to $116.00 in a report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently issued reports on LGN. The Goldman Sachs Group lifted their price target on shares of LGN from $63.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Roth Capital reaffirmed a “buy” rating and issued a $120.00 price objective on shares of LGN in a research note on Wednesday. Glj Research assumed coverage on LGN in a report on Tuesday, April 21st. They set a “buy” rating and a $99.00 price objective for the company. Guggenheim upped their target price on LGN from $106.00 to $115.00 and gave the company a “buy” rating in a report on Friday, July 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of LGN in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, LGN currently has a consensus rating of “Moderate Buy” and an average price target of $99.08.

LGN Price Performance

LGN stock opened at $66.38 on Friday. The company has a market cap of $7.17 billion and a P/E ratio of 288.61. LGN has a one year low of $26.96 and a one year high of $107.24. The business has a fifty day moving average of $73.77 and a two-hundred day moving average of $68.40. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.30 and a current ratio of 1.30.

LGN (NASDAQ:LGN) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.63). The company had revenue of $1.26 billion for the quarter. LGN had a positive return on equity of 4.48% and a negative net margin of 1.20%. As a group, analysts predict that LGN will post 1.24 earnings per share for the current fiscal year.

Institutional Trading of LGN

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LGN. Assetmark Inc. purchased a new position in LGN in the 4th quarter valued at about $31,000. KBC Group NV acquired a new position in shares of LGN in the first quarter valued at approximately $66,000. Aster Capital Management DIFC Ltd acquired a new position in shares of LGN in the fourth quarter valued at approximately $64,000. Kestra Advisory Services LLC purchased a new position in shares of LGN during the fourth quarter valued at approximately $91,000. Finally, Avior Wealth Management LLC purchased a new position in shares of LGN during the second quarter valued at approximately $203,000.

Key LGN News

Here are the key news stories impacting LGN this week:

• Positive Sentiment: Legence reported record second-quarter revenue of $1.26 billion, up 111% year over year, while adjusted EBITDA rose 114% to $154.6 million. Organic revenue growth excluding the Bowers acquisition was 60%, indicating substantial underlying demand. Legence Reports Second Quarter 2026 Financial Results
• Positive Sentiment: Management raised its 2026 revenue outlook to $4.7 billion-$4.8 billion from $4.1 billion-$4.3 billion and lifted adjusted EBITDA guidance to $565 million-$585 million from $470 million-$490 million. Third-quarter revenue guidance of $1.225 billion-$1.275 billion also exceeds the reported consensus estimate. Legence Raises 2026 Guidance
• Positive Sentiment: Backlog and awarded contracts reached a record $5.67 billion, up 105% year over year, providing improved revenue visibility. Demand was particularly strong in data centers and technology, as well as life sciences, government and education.
• Positive Sentiment: Bank of America raised its LGN price target to $116 from $105 and assigned a Buy rating. BMO also increased its target to $105 from $100 and rated the shares Outperform. Both targets imply substantial upside from recent trading levels. Analyst Price Target Revisions
• Neutral Sentiment: BTIG reaffirmed its Buy rating but reduced its price target to $100 from $120, reflecting a more cautious view after the quarterly results. Roth Capital also reiterated a Buy rating.
• Negative Sentiment: Legence reported a loss of $0.37 per share, versus analysts’ expected profit of $0.26. Net loss attributable to Legence widened to $27.8 million from $5.3 million a year earlier, partly reflecting goodwill and long-lived asset impairments.
• Negative Sentiment: Gross margin declined to 17.4% from 21.5%, while adjusted gross margin fell to 18.5% from 21.8%, due to an unfavorable business mix and higher service-delivery costs. Analysts’ mixed reactions, including several price-target reductions, underscore concerns about profitability despite the strong top-line outlook.

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.