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

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

LGN has been the topic of several other research reports. Weiss Ratings began coverage on shares of LGN in a research report on Wednesday, January 14th. They set a “sell (d+)” rating on the stock. Tigress Financial raised their price objective on shares of LGN from $60.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. BTIG Research raised their price objective on shares of LGN from $45.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, March 27th. Guggenheim raised their price objective on shares of LGN from $53.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, March 26th. Finally, Barclays raised their price objective on shares of LGN from $37.00 to $45.00 and gave the company an “equal weight” rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $70.11.

LGN Stock Up 0.7%

LGN stock opened at $76.59 on Monday. LGN has a 12-month low of $26.96 and a 12-month high of $78.29. 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 stock has a market cap of $8.27 billion and a P/E ratio of -7,659.00. The business has a 50 day moving average of $55.94.

LGN (NASDAQ:LGN) last released its earnings results on Friday, March 27th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. LGN’s quarterly revenue was up 34.5% on a year-over-year basis. On average, research analysts anticipate that LGN will post 1.31 EPS for the current year.

Hedge Funds Weigh In On LGN

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its position in shares of LGN by 128.4% in the fourth quarter. Janus Henderson Group PLC now owns 4,401,402 shares of the company’s stock valued at $189,442,000 after purchasing an additional 2,474,220 shares during the period. Vanguard Group Inc. raised its position in shares of LGN by 78.1% in the fourth quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company’s stock valued at $138,919,000 after purchasing an additional 1,415,282 shares during the period. Westfield Capital Management Co. LP bought a new position in shares of LGN in the fourth quarter valued at approximately $69,438,000. Munro Partners raised its position in shares of LGN by 1,875.9% in the fourth 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 during the period. Finally, CI Investments Inc. raised 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 valued at $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.