Glj Research Upgrades LGN (NASDAQ:LGN) to Strong-Buy

LGN (NASDAQ:LGN) was upgraded by analysts at Glj Research to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Tigress Financial raised their target price on shares of LGN from $60.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Zacks Research cut shares of LGN from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. BTIG Research raised their target price on shares of LGN from $45.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, March 27th. Royal Bank Of Canada raised their target price on shares of LGN from $48.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. Finally, BMO Capital Markets raised their target price on shares of LGN from $46.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.11.

LGN Price Performance

Shares of LGN opened at $76.59 on Monday. LGN has a one year low of $26.96 and a one year high of $78.29. The stock has a 50-day moving average price of $55.94. The firm has a market capitalization of $8.27 billion and a PE ratio of -7,659.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.57 and a current ratio of 1.57.

LGN (NASDAQ:LGN) last announced its earnings results on Friday, March 27th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.60). The business had revenue of $737.64 million for the quarter, compared to the consensus estimate of $616.05 million. The firm’s revenue was up 34.5% compared to the same quarter last year. Analysts anticipate that LGN will post 1.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Assetmark Inc. purchased a new stake in LGN in the 4th quarter worth approximately $31,000. Aster Capital Management DIFC Ltd purchased a new stake in LGN in the 4th quarter worth approximately $64,000. Clearbridge Investments LLC lifted its position in LGN by 0.4% in the 4th quarter. Clearbridge Investments LLC now owns 401,667 shares of the company’s stock worth $17,288,000 after buying an additional 1,667 shares in the last quarter. Symmetry Investments LP lifted its position in LGN by 21.9% in the 4th quarter. Symmetry Investments LP now owns 9,750 shares of the company’s stock worth $420,000 after buying an additional 1,750 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in LGN in the 4th quarter worth approximately $91,000.

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.