LGN (NASDAQ:LGN) Sets New 12-Month High on Analyst Upgrade

LGN (NASDAQ:LGN) shares reached a new 52-week high on Thursday after BMO Capital Markets raised their price target on the stock from $63.00 to $100.00. BMO Capital Markets currently has an outperform rating on the stock. LGN traded as high as $107.24 and last traded at $95.6760, with a volume of 223738 shares traded. The stock had previously closed at $100.00.

LGN has been the subject of a number of other research reports. Royal Bank Of Canada increased their target price on LGN from $48.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, March 30th. The Goldman Sachs Group lifted their price target on LGN from $63.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. BTIG Research increased their price objective on LGN from $75.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday. Glj Research started coverage on LGN in a report on Tuesday, April 21st. They issued a “buy” rating and a $99.00 price objective on the stock. Finally, Tigress Financial lifted their target price on shares of LGN from $60.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, LGN has an average rating of “Moderate Buy” and an average price target of $80.90.

Trending Headlines about LGN

Here are the key news stories impacting LGN this week:

• Positive Sentiment: BMO Capital Markets raised its price target on Legence from $63 to $100 and reiterated an outperform rating, while BTIG lifted its target to $120 with a buy rating, signaling continued analyst confidence in the stock’s longer-term upside.
• Positive Sentiment: Legence reported record quarterly revenue of $1.04 billion, up 105% year over year, and record backlog and awards of $5.38 billion, suggesting demand remains strong and visibility is improving.
• Positive Sentiment: The company also raised full-year 2026 guidance for revenue and adjusted EBITDA, and set second-quarter revenue guidance above Wall Street expectations, which supports the growth narrative.
• Neutral Sentiment: Management’s Q1 earnings came in below consensus, with adjusted EPS of $0.13 versus the expected $0.19, even though revenue topped estimates.
• Negative Sentiment: Investors are reacting to margin compression, with consolidated gross margin falling year over year, which has raised concerns that profitability may not be scaling as quickly as revenue.
• Negative Sentiment: Some of the weakness also looks like a “sell-the-news” reaction after a strong pre-earnings run-up, as expectations had become elevated heading into the report.

Hedge Funds Weigh In On LGN

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

LGN Stock Down 5.3%

The business has a 50-day moving average of $67.94. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.57 and a quick ratio of 1.57. The firm has a market cap of $9.11 billion and a P/E ratio of -8,430.00.

LGN (NASDAQ:LGN) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). The firm had revenue of $1.04 billion during the quarter. The firm’s revenue for the quarter was up 105.2% compared to the same quarter last year. On average, equities research analysts expect that LGN will post 1.31 EPS for the current year.

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.