LGN (NASDAQ:LGN) Now Covered by Loop Capital

Loop Capital initiated coverage on shares of LGN (NASDAQ:LGN) in a report released on Wednesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $96.00 target price on the stock.

Other equities analysts also recently issued research reports about the stock. Weiss Ratings started coverage on shares of LGN in a report on Wednesday, January 14th. They issued a “sell (d+)” rating on the stock. Barclays increased their price target on shares of LGN from $37.00 to $45.00 and gave the stock an “equal weight” rating in a report on Friday, January 23rd. The Goldman Sachs Group increased their price target on shares of LGN from $63.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Tigress Financial increased their price target on shares of LGN from $60.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Finally, Royal Bank Of Canada increased their price target on shares of LGN from $48.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. 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 given a Sell rating to the stock. Based on data from MarketBeat.com, LGN presently has an average rating of “Moderate Buy” and an average price target of $72.70.

LGN Trading Up 0.2%

Shares of NASDAQ:LGN opened at $80.74 on Wednesday. LGN has a twelve month low of $26.96 and a twelve month high of $82.74. The stock has a 50 day simple moving average of $59.77. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.03. The firm has a market cap of $8.72 billion and a P/E ratio of -8,074.00.

LGN (NASDAQ:LGN) last issued its quarterly earnings results on Friday, March 27th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.60). The company had revenue of $737.64 million for the quarter, compared to the consensus estimate of $616.05 million. The business’s quarterly revenue was up 34.5% on a year-over-year basis. Equities research analysts predict that LGN will post 1.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LGN

A number of hedge funds and other institutional investors have recently made changes to their positions in LGN. Janus Henderson Group PLC grew its stake in shares of LGN by 128.4% during the 4th quarter. Janus Henderson Group PLC now owns 4,401,402 shares of the company’s stock worth $189,442,000 after purchasing an additional 2,474,220 shares during the period. Westfield Capital Management Co. LP acquired a new stake in shares of LGN during the 4th quarter worth approximately $69,438,000. Vanguard Group Inc. grew its stake in shares of LGN by 78.1% during the 4th quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company’s stock worth $138,919,000 after purchasing an additional 1,415,282 shares during the period. Munro Partners grew its stake in shares of LGN by 1,875.9% during the 4th quarter. Munro Partners now owns 1,396,642 shares of the company’s stock worth $60,111,000 after purchasing an additional 1,325,957 shares during the period. Finally, CI Investments Inc. grew its stake in shares of LGN by 2,209.7% during the 4th quarter. CI Investments Inc. now owns 788,287 shares of the company’s stock worth $33,928,000 after purchasing an additional 754,157 shares during the period.

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.