LGN (NASDAQ:LGN) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of LGN (NASDAQ:LGN) from a hold rating to a strong-buy rating in a research report report published on Monday,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Weiss Ratings raised LGN from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Friday. Glj Research assumed coverage on LGN in a report on Tuesday, April 21st. They set a “buy” rating and a $99.00 price target on the stock. Roth Capital reaffirmed a “buy” rating and set a $120.00 target price on shares of LGN in a research note on Wednesday, August 12th. Guggenheim reiterated a “buy” rating and set a $115.00 price target on shares of LGN in a research report on Tuesday. Finally, Tigress Financial increased their price target on LGN from $85.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, May 19th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $99.08.

LGN Trading Down 9.1%

NASDAQ LGN opened at $63.66 on Monday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.35 and a current ratio of 1.35. LGN has a one year low of $26.96 and a one year high of $107.24. The company has a 50-day simple moving average of $73.03 and a 200-day simple moving average of $68.75. The firm has a market capitalization of $6.88 billion and a PE ratio of 159.15.

LGN (NASDAQ:LGN) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.63). LGN had a positive return on equity of 4.33% and a negative net margin of 1.20%.The business had revenue of $1.26 billion for the quarter. On average, equities analysts forecast that LGN will post 1.26 earnings per share for the current year.

Hedge Funds Weigh In On LGN

Several hedge funds have recently made changes to their positions in LGN. Janus Henderson Group PLC raised its holdings in 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 buying an additional 2,474,220 shares during the period. Westfield Capital Management Co. LP acquired a new position in LGN in the 4th quarter worth about $69,438,000. Vanguard Group Inc. increased its holdings in LGN by 78.1% in the fourth quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company’s stock worth $138,919,000 after buying an additional 1,415,282 shares during the last quarter. Munro Partners raised its holdings 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 valued at $60,111,000 after purchasing an additional 1,325,957 shares in the last quarter. Finally, CI Investments Inc. lifted its position in shares of LGN by 2,209.7% in the fourth quarter. CI Investments Inc. now owns 788,287 shares of the company’s stock worth $33,928,000 after buying an additional 754,157 shares during the last quarter.

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.