LGN (NASDAQ:LGN) Given Average Recommendation of “Moderate Buy” by Analysts

LGN (NASDAQ:LGN) has earned an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $72.70.

A number of equities analysts have recently weighed in on the company. BMO Capital Markets boosted their price target on LGN from $46.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. The Goldman Sachs Group lifted their price objective on LGN from $63.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Stifel Nicolaus boosted their target price on shares of LGN from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, March 31st. Barclays raised their price target on shares of LGN from $37.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Finally, Weiss Ratings assumed coverage on shares of LGN in a report on Wednesday, January 14th. They set a “sell (d+)” rating for the company.

LGN Price Performance

LGN stock opened at $97.44 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.03. The firm has a 50 day simple moving average of $63.30. LGN has a 12 month low of $26.96 and a 12 month high of $102.64. The firm has a market capitalization of $10.53 billion and a price-to-earnings ratio of -9,744.00.

LGN (NASDAQ:LGN) last issued its quarterly earnings data on Friday, March 27th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.60). The company had revenue of $737.64 million during the quarter, compared to analysts’ expectations of $616.05 million. LGN’s quarterly revenue was up 34.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that LGN will post 1.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Assetmark Inc. acquired a new stake in shares of LGN during the fourth quarter worth $31,000. KBC Group NV acquired a new position in LGN in the first quarter valued at $66,000. Aster Capital Management DIFC Ltd acquired a new position in LGN in the fourth quarter valued at $64,000. Clearbridge Investments LLC lifted its position in LGN by 0.4% during the fourth 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 during the period. Finally, Symmetry Investments LP boosted its stake 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 during the last quarter.

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.