LGN (NASDAQ:LGN) Receives Buy Rating from Roth Capital

LGN (NASDAQ:LGN)‘s stock had its “buy” rating reaffirmed by Roth Capital in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $120.00 price objective on the stock. Roth Capital’s price objective would suggest a potential upside of 72.44% from the stock’s previous close.

A number of other research analysts have also commented on LGN. Guggenheim increased their price objective on LGN from $106.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Glj Research assumed coverage on LGN in a research report on Tuesday, April 21st. They set a “buy” rating and a $99.00 target price for the company. Tigress Financial upped their price target on LGN from $85.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of LGN in a report on Friday, June 26th. Finally, BMO Capital Markets raised their price target on LGN from $63.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, LGN presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.91.

LGN Price Performance

Shares of NASDAQ LGN traded up $4.62 during trading on Wednesday, reaching $69.59. The company had a trading volume of 775,552 shares, compared to its average volume of 1,466,037. LGN has a 52 week low of $26.96 and a 52 week high of $107.24. The business’s 50 day moving average price is $75.02 and its 200-day moving average price is $68.18. The stock has a market cap of $7.52 billion and a PE ratio of 302.57. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.30 and a current ratio of 1.30.

LGN (NASDAQ:LGN) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). The firm had revenue of $1.04 billion for the quarter. The business’s quarterly revenue was up 105.2% compared to the same quarter last year. Analysts expect that LGN will post 1.24 earnings per share for the current year.

Institutional Trading of LGN

Institutional investors and hedge funds have recently modified their holdings of the stock. Avior Wealth Management LLC acquired a new position in LGN during the second quarter valued at approximately $203,000. Bank of America Corp DE grew its holdings in shares of LGN by 161.4% in the 1st quarter. Bank of America Corp DE now owns 680,217 shares of the company’s stock valued at $38,405,000 after buying an additional 419,997 shares during the period. Value Aligned Research Advisors LLC grew its holdings in shares of LGN by 22.4% in the 1st quarter. Value Aligned Research Advisors LLC now owns 308,141 shares of the company’s stock valued at $17,398,000 after buying an additional 56,460 shares during the period. Royal Bank of Canada increased its position in shares of LGN by 662.4% in the 1st quarter. Royal Bank of Canada now owns 22,856 shares of the company’s stock valued at $1,290,000 after buying an additional 19,858 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in LGN by 57.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 18,129 shares of the company’s stock worth $1,024,000 after buying an additional 6,647 shares during the period.

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.