LGN (NASDAQ:LGN) Shares Down 8.8% – Time to Sell?

Shares of LGN (NASDAQ:LGN) fell 8.8% during trading on Tuesday . The company traded as low as $70.46 and last traded at $70.9380. 483,489 shares traded hands during trading, a decline of 67% from the average session volume of 1,482,882 shares. The stock had previously closed at $77.78.

Analysts Set New Price Targets

LGN has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LGN in a research note on Friday, June 26th. Loop Capital initiated coverage on shares of LGN in a research report on Wednesday, April 29th. They set a “buy” rating and a $96.00 target price for the company. Zacks Research downgraded LGN from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. BMO Capital Markets boosted their price objective on LGN from $63.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Finally, Glj Research began coverage on LGN in a research note on Tuesday, April 21st. They issued a “buy” rating and a $99.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $88.40.

LGN Stock Performance

The firm has a market cap of $7.68 billion and a PE ratio of 308.17. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.06. The stock’s 50 day simple moving average is $85.61.

LGN (NASDAQ:LGN) last released its earnings results on Thursday, May 14th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The firm had revenue of $1.04 billion during the quarter. The business’s quarterly revenue was up 105.2% on a year-over-year basis. On average, sell-side analysts predict that LGN will post 1.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LGN

Several large investors have recently modified their holdings of the stock. Assetmark Inc. bought a new stake in shares of LGN in the 4th quarter worth approximately $31,000. KBC Group NV purchased a new stake in LGN in the 1st quarter worth about $66,000. Aster Capital Management DIFC Ltd purchased a new stake in LGN in the 4th quarter worth about $64,000. Kestra Advisory Services LLC bought a new stake in LGN in the 4th quarter valued at about $91,000. Finally, Clearstead Advisors LLC purchased a new stake in LGN during the fourth quarter valued at about $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.