LGN (NASDAQ:LGN) Given New $90.00 Price Target at Royal Bank Of Canada

LGN (NASDAQ:LGN) had its price objective cut by stock analysts at Royal Bank Of Canada from $101.00 to $90.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 111.15% from the company’s previous close.

Several other brokerages have also issued reports on LGN. Roth Capital reiterated a “buy” rating and set a $120.00 price objective on shares of LGN in a report on Wednesday, August 12th. Zacks Research upgraded LGN from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 17th. Weiss Ratings downgraded LGN from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, October 8th. Guggenheim reiterated a “buy” rating and set a $115.00 price target on shares of LGN in a report on Tuesday, August 18th. Finally, Bank of America boosted their price target on LGN from $105.00 to $116.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $100.42.

LGN Stock Down 5.1%

LGN stock traded down $2.29 during midday trading on Thursday, reaching $42.62. The company had a trading volume of 281,506 shares, compared to its average volume of 1,362,108. LGN has a 1 year low of $31.26 and a 1 year high of $107.24. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $4.61 billion and a P/E ratio of 105.49. The company has a 50 day moving average of $56.05 and a two-hundred day moving average of $69.50.

LGN (NASDAQ:LGN) last issued its earnings results on Thursday, August 13th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.63). LGN had a negative net margin of 1.20% and a positive return on equity of 4.33%. The company had revenue of $1.26 billion for the quarter. On average, equities research analysts expect that LGN will post 1.36 earnings per share for the current fiscal year.

Insider Activity at LGN

In other news, CAO Bris Philippe Le sold 4,196 shares of the firm’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $54.06, for a total transaction of $226,835.76. Following the transaction, the chief accounting officer owned 6,148 shares in the company, valued at approximately $332,360.88. This trade represents a 40.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.01% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On LGN

A number of large investors have recently bought and sold shares of the business. Value Aligned Research Advisors LLC increased its position in LGN by 124.6% during the second quarter. Value Aligned Research Advisors LLC now owns 692,150 shares of the company’s stock worth $58,992,000 after buying an additional 384,009 shares during the last quarter. Bank of America Corp DE raised its holdings 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 buying an additional 419,997 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of LGN by 87.6% in the first quarter. Renaissance Technologies LLC now owns 579,700 shares of the company’s stock worth $32,730,000 after buying an additional 270,615 shares during the last quarter. Engle Capital Management L.P. acquired a new stake in shares of LGN in the fourth quarter worth about $24,059,000. Finally, Conestoga Capital Advisors LLC acquired a new stake in shares of LGN in the first quarter worth about $23,479,000.

LGN Company Profile

Legence Corp. (NASDAQ: LGN) is an energy-transition and building-solutions company that helps commercial, industrial and institutional customers improve the performance, efficiency and sustainability of their facilities and infrastructure. Its work is focused on reducing energy consumption and emissions while supporting the development, modernization and operation of complex buildings and facilities.

The company provides services that may include engineering, design, construction, building automation and controls, heating, ventilation and air-conditioning systems, electrical services, energy management, renewable-energy solutions, maintenance and facility optimization.