LGN (NASDAQ:LGN – Get Free Report) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.
Other research analysts have also recently issued research reports about the stock. Royal Bank Of Canada cut their price target on shares of LGN from $106.00 to $101.00 and set an “outperform” rating for the company in a research note on Wednesday, July 22nd. Glj Research initiated coverage on LGN in a report on Tuesday, April 21st. They issued a “buy” rating and a $99.00 target price for the company. Weiss Ratings upgraded LGN from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Friday. Roth Capital reaffirmed a “buy” rating and issued a $120.00 price target on shares of LGN in a research note on Wednesday, August 12th. Finally, BMO Capital Markets upped their price target on LGN from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, LGN presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.08.
View Our Latest Stock Analysis on LGN
LGN Trading Down 9.1%
LGN (NASDAQ:LGN – Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.63). The business had revenue of $1.26 billion for the quarter. LGN had a negative net margin of 1.20% and a positive return on equity of 4.33%. On average, equities research analysts forecast that LGN will post 1.26 earnings per share for the current fiscal year.
Hedge Funds Weigh In On LGN
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its stake in LGN by 128.4% during the fourth quarter. Janus Henderson Group PLC now owns 4,401,402 shares of the company’s stock worth $189,442,000 after buying an additional 2,474,220 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in shares of LGN in the fourth quarter valued at approximately $69,438,000. Vanguard Group Inc. raised its stake 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 acquiring an additional 1,415,282 shares during the last quarter. Munro Partners boosted its holdings in shares of LGN by 1,875.9% in the 4th quarter. Munro Partners now owns 1,396,642 shares of the company’s stock worth $60,111,000 after acquiring an additional 1,325,957 shares in the last quarter. Finally, CI Investments Inc. boosted its holdings in shares of LGN by 2,209.7% in the 4th quarter. CI Investments Inc. now owns 788,287 shares of the company’s stock worth $33,928,000 after acquiring an additional 754,157 shares in the last quarter.
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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