LGN (NASDAQ:LGN – Get Free Report)’s stock price traded up 6.7% during trading on Friday after BMO Capital Markets raised their price target on the stock from $100.00 to $105.00. BMO Capital Markets currently has an outperform rating on the stock. LGN traded as high as $67.60 and last traded at $67.4760. 310,229 shares were traded during mid-day trading, a decline of 79% from the average session volume of 1,470,647 shares. The stock had previously closed at $63.24.
A number of other research firms also recently issued reports on LGN. Tigress Financial increased their price objective on shares of LGN from $85.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. Loop Capital initiated coverage on LGN in a report on Wednesday, April 29th. They set a “buy” rating and a $96.00 target price for the company. Barclays upped their target price on LGN from $60.00 to $80.00 and gave the stock an “equal weight” rating in a report on Monday, June 22nd. BTIG Research reiterated a “buy” rating and issued a $100.00 price target (down from $120.00) on shares of LGN in a report on Friday. Finally, Glj Research assumed coverage on LGN in a report on Tuesday, April 21st. They issued a “buy” rating and a $99.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.55.
Read Our Latest Analysis on LGN
Key LGN News
- Positive Sentiment: Legence reported record second-quarter revenue of $1.26 billion, up 111% year over year, while revenue excluding the Bowers acquisition increased 60%. Adjusted EBITDA rose 114% to $154.6 million. Legence Reports Second Quarter 2026 Financial Results
- Positive Sentiment: Management raised full-year 2026 revenue guidance to $4.7 billion-$4.8 billion from $4.1 billion-$4.3 billion and increased adjusted EBITDA guidance to $565 million-$585 million. Third-quarter revenue guidance of $1.225 billion-$1.275 billion is also above consensus expectations. Legence Guidance
- Positive Sentiment: Backlog and awarded contracts reached a record $5.67 billion, up 105%, providing improved visibility into future revenue. Demand was particularly strong in data centers and technology. Legence Record Revenue and Backlog
- Neutral Sentiment: BMO raised its price target to $105 from $100 and maintained an outperform rating, while Roth Capital reiterated a buy rating with a $120 target. Analyst Forecasts for Legence
- Negative Sentiment: Legence posted a loss of $0.37 per share, substantially missing the $0.26 consensus estimate. Net loss widened to $34.6 million from $3.9 million a year earlier, despite the revenue increase.
- Negative Sentiment: Gross margin declined to 17.4% from 21.5%, reflecting an unfavorable mix shift and higher delivery costs. The quarter also included $21.6 million of goodwill impairment and $19.5 million of long-lived asset impairment.
- Negative Sentiment: Analysts lowered targets following the results: BTIG cut its target to $100 from $120 while retaining a buy rating, and other analysts also revised forecasts downward. The target cuts signal concern about profitability and execution, even though most ratings remain positive. Analysts Revise Legence Forecasts
Institutional Investors Weigh In On LGN
A number of large investors have recently made changes to their positions in LGN. Avior Wealth Management LLC acquired a new stake in LGN during the 2nd quarter worth about $203,000. Bank of America Corp DE increased its holdings in shares of LGN by 161.4% in the first quarter. Bank of America Corp DE now owns 680,217 shares of the company’s stock valued at $38,405,000 after purchasing an additional 419,997 shares during the period. Value Aligned Research Advisors LLC increased its holdings in shares of LGN by 22.4% in the first quarter. Value Aligned Research Advisors LLC now owns 308,141 shares of the company’s stock valued at $17,398,000 after purchasing an additional 56,460 shares during the period. Royal Bank of Canada raised its stake in shares of LGN by 662.4% in the first quarter. Royal Bank of Canada now owns 22,856 shares of the company’s stock worth $1,290,000 after purchasing an additional 19,858 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of LGN by 57.9% in the first quarter. The Manufacturers Life Insurance Company now owns 18,129 shares of the company’s stock worth $1,024,000 after purchasing an additional 6,647 shares during the last quarter.
LGN Price Performance
The stock has a fifty day moving average of $74.12 and a 200 day moving average of $68.42. The stock has a market cap of $7.30 billion and a price-to-earnings ratio of 290.83. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.30 and a quick ratio of 1.30.
LGN (NASDAQ:LGN – Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported ($0.37) earnings per share (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. On average, analysts expect that LGN will post 1.24 EPS for the current fiscal year.
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.
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