LGN (NASDAQ:LGN) Price Target Raised to $120.00

LGN (NASDAQ:LGN) had its price target raised by investment analysts at BTIG Research from $75.00 to $120.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price target would suggest a potential upside of 35.74% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Royal Bank Of Canada boosted their price objective on LGN from $48.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, March 30th. BMO Capital Markets boosted their price objective on LGN from $46.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, March 30th. Guggenheim boosted their price objective on LGN from $53.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, March 26th. Zacks Research cut LGN from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, Glj Research started coverage on LGN in a research note on Tuesday, April 21st. They issued a “buy” rating and a $99.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have given 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 a consensus price target of $77.20.

LGN Stock Down 11.6%

LGN stock traded down $11.59 during midday trading on Thursday, hitting $88.41. The company’s stock had a trading volume of 1,668,103 shares, compared to its average volume of 1,469,302. The company’s 50-day moving average is $66.67. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.03. LGN has a 1 year low of $26.96 and a 1 year high of $107.24. The stock has a market cap of $9.55 billion and a PE ratio of -8,840.70.

LGN (NASDAQ:LGN) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.06). The business had revenue of $1.04 billion during the quarter. LGN’s revenue was up 105.2% compared to the same quarter last year. As a group, equities analysts forecast that LGN will post 1.31 earnings per share for the current fiscal year.

Institutional Trading of LGN

Several hedge funds have recently made changes to their positions in the company. Assetmark Inc. bought a new stake in shares of LGN during the 4th quarter valued at $31,000. KBC Group NV bought a new stake in shares of LGN during the 1st quarter valued at $66,000. Aster Capital Management DIFC Ltd bought a new stake in shares of LGN during the 4th quarter valued at $64,000. Kestra Advisory Services LLC bought a new stake in shares of LGN during the 4th quarter valued at $91,000. Finally, Clearstead Advisors LLC bought a new stake in shares of LGN during the 4th quarter valued at $140,000.

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.