LGN (NASDAQ:LGN) Stock Price Expected to Rise, Barclays Analyst Says

LGN (NASDAQ:LGN) had its price target lifted by research analysts at Barclays from $60.00 to $80.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price would indicate a potential downside of 6.51% from the stock’s current price.

Several other equities research analysts have also weighed in on the stock. BTIG Research increased their target price on shares of LGN from $75.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Loop Capital began coverage on shares of LGN in a report on Wednesday, April 29th. They issued a “buy” rating and a $96.00 price target for the company. BMO Capital Markets upped their price objective on shares of LGN from $63.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Royal Bank Of Canada upped their price objective on shares of LGN from $48.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. Finally, Glj Research assumed coverage on LGN in a research note on Tuesday, April 21st. They set a “buy” rating and a $99.00 price objective on the stock. One 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.40.

LGN Price Performance

Shares of LGN stock opened at $85.57 on Monday. The company has a market cap of $9.24 billion and a PE ratio of 372.04. The company has a 50-day moving average of $83.49. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.06. LGN has a one year low of $26.96 and a one year high of $107.24.

LGN (NASDAQ:LGN) last released 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 company 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. As a group, research analysts anticipate that LGN will post 1.24 earnings per share for the current year.

Hedge Funds Weigh In On LGN

Large investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new position in shares of LGN during the 4th quarter worth approximately $1,220,000. Assetmark Inc. bought a new position in LGN in the fourth quarter valued at $31,000. Freestone Capital Holdings LLC bought a new position in LGN in the fourth quarter valued at $1,153,000. Capelight Capital Asset Management LP acquired a new stake in LGN in the 4th quarter valued at $4,089,000. Finally, LBP AM SA acquired a new stake in LGN in the 4th quarter valued at $2,887,000.

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.