LGN (NASDAQ:LGN) Trading 9.7% Higher – Time to Buy?

Shares of LGN (NASDAQ:LGN) were up 9.7% during mid-day trading on Tuesday . The stock traded as high as $57.70 and last traded at $58.1150. 269,669 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 1,417,835 shares. The stock had previously closed at $52.97.

Analysts Set New Price Targets

LGN has been the topic of several research analyst reports. Roth Capital reaffirmed a “buy” rating and set a $120.00 price objective on shares of LGN in a research note on Wednesday, August 12th. Zacks Research raised LGN from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 17th. Barclays increased their price target on LGN from $60.00 to $80.00 and gave the stock an “equal weight” rating in a report on Monday, June 22nd. Bank of America raised their price target on LGN from $105.00 to $116.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Finally, BTIG Research reaffirmed a “buy” rating and set a $100.00 price target (down from $120.00) on shares of LGN in a research report on Friday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $99.50.

LGN Price Performance

The company’s fifty day moving average price is $65.20 and its two-hundred day moving average price is $69.43. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.03. The company has a market cap of $6.29 billion and a price-to-earnings ratio of 145.33.

LGN (NASDAQ:LGN) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.63). The company had revenue of $1.26 billion for the quarter. LGN had a positive return on equity of 4.33% and a negative net margin of 1.20%. On average, equities research analysts forecast that LGN will post 1.36 EPS for the current fiscal year.

Institutional Trading of LGN

Several hedge funds and other institutional investors have recently modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of LGN in the 4th quarter valued at about $64,000. KBC Group NV acquired a new position in shares of LGN during the first quarter worth about $66,000. Kestra Advisory Services LLC bought a new position in shares of LGN during the fourth quarter worth about $91,000. Nykredit A S bought a new position in shares of LGN during the second quarter worth about $128,000. Finally, Clearstead Advisors LLC acquired a new stake in LGN in the 4th quarter valued at approximately $140,000.

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.