LGN (NASDAQ:LGN) Price Target Raised to $80.00 at Barclays

LGN (NASDAQ:LGN) had its target price lifted by stock analysts at Barclays from $60.00 to $80.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential downside of 6.51% from the stock’s previous close.

A number of other brokerages have also commented on LGN. Loop Capital began coverage on shares of LGN in a report on Wednesday, April 29th. They set a “buy” rating and a $96.00 price objective on the stock. Royal Bank Of Canada boosted their target price on shares of LGN from $48.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Tigress Financial upped their target price on shares of LGN from $85.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. The Goldman Sachs Group increased their price target on shares of LGN from $63.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Finally, BTIG Research raised their price target on shares of LGN from $75.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $88.40.

LGN Price Performance

LGN stock opened at $85.57 on Monday. The company’s fifty day simple moving average is $83.49. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.30 and a quick ratio of 1.30. LGN has a fifty-two week low of $26.96 and a fifty-two week high of $107.24. The firm has a market cap of $9.24 billion and a PE ratio of 372.04.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Assetmark Inc. bought a new stake in shares of LGN during the fourth quarter worth approximately $31,000. Aster Capital Management DIFC Ltd acquired a new stake in LGN during the 4th quarter worth $64,000. KBC Group NV acquired a new stake in LGN during the 1st quarter worth $66,000. Kestra Advisory Services LLC bought a new stake in shares of LGN during the 4th quarter valued at $91,000. Finally, Clearstead Advisors LLC bought a new stake in shares of LGN during the 4th quarter valued at $140,000.

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.