LGN (NASDAQ:LGN) Price Target Raised to $63.00

LGN (NASDAQ:LGN) had its price objective hoisted by BMO Capital Markets from $46.00 to $63.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

LGN has been the topic of a number of other reports. Stifel Nicolaus lifted their price objective on shares of LGN from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Weiss Ratings began coverage on shares of LGN in a research note on Wednesday, January 14th. They set a “sell (d+)” rating for the company. Zacks Research lowered LGN from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Barclays boosted their price target on LGN from $37.00 to $45.00 and gave the company an “equal weight” rating in a research report on Friday, January 23rd. Finally, Guggenheim upped their price objective on LGN from $53.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, March 26th. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, LGN presently has an average rating of “Moderate Buy” and an average price target of $62.25.

LGN Stock Up 5.6%

Shares of LGN stock opened at $59.60 on Monday. The firm has a fifty day simple moving average of $51.66. LGN has a 12 month low of $26.96 and a 12 month high of $60.50. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.57 and a current ratio of 1.57.

LGN (NASDAQ:LGN) last released its quarterly earnings results on Friday, March 27th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.60). The company had revenue of $737.64 million for the quarter, compared to analysts’ expectations of $616.05 million. The firm’s quarterly revenue was up 34.5% on a year-over-year basis.

Hedge Funds Weigh In On LGN

A number of large investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. purchased a new position in LGN during the 4th quarter worth $2,559,000. Mariner Investment Group LLC purchased a new stake in shares of LGN in the fourth quarter valued at about $430,000. Invesco Ltd. acquired a new position in shares of LGN during the fourth quarter worth about $1,014,000. Alberta Investment Management Corp increased its stake in shares of LGN by 30.9% during the fourth quarter. Alberta Investment Management Corp now owns 392,738 shares of the company’s stock worth $16,903,000 after acquiring an additional 92,738 shares during the period. Finally, Regal Partners Ltd purchased a new position in LGN during the fourth quarter worth about $1,076,000.

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.