LGN (NASDAQ:LGN) Price Target Lowered to $101.00 at Royal Bank Of Canada

LGN (NASDAQ:LGN) had its target price reduced by equities research analysts at Royal Bank Of Canada from $106.00 to $101.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 41.06% from the stock’s previous close.

A number of other equities analysts have also issued reports on LGN. Zacks Research lowered LGN from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. BTIG Research upped their price objective on LGN from $75.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Glj Research started coverage on LGN in a research report on Tuesday, April 21st. They set a “buy” rating and a $99.00 price objective for the company. Loop Capital started coverage on LGN in a research note on Wednesday, April 29th. They issued a “buy” rating and a $96.00 target price on the stock. Finally, BMO Capital Markets boosted their target price on LGN from $63.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, May 15th. One research 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $96.80.

LGN Price Performance

Shares of LGN traded down $0.95 during mid-day trading on Wednesday, reaching $71.60. 77,139 shares of the company’s stock were exchanged, compared to its average volume of 1,484,426. The stock’s fifty day simple moving average is $81.06. The stock has a market cap of $7.74 billion and a PE ratio of 311.24. LGN has a 52-week low of $26.96 and a 52-week high of $107.24. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.06.

LGN (NASDAQ:LGN) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The company had revenue of $1.04 billion for the quarter. The business’s revenue for the quarter was up 105.2% on a year-over-year basis. Equities research analysts predict that LGN will post 1.24 earnings per share for the current year.

Hedge Funds Weigh In On LGN

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

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.