LGN (NASDAQ:LGN) Price Target Cut to $82.00 by Analysts at Stifel Nicolaus

LGN (NASDAQ:LGN) had its price target lowered by research analysts at Stifel Nicolaus from $101.00 to $82.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 63.83% from the company’s previous close.

A number of other brokerages have also recently commented on LGN. Weiss Ratings cut shares of LGN from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 31st. Roth Capital reaffirmed a “buy” rating and issued a $120.00 price target on shares of LGN in a report on Wednesday, August 12th. Tigress Financial lifted their price target on LGN from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. Barclays boosted their price objective on LGN from $60.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Monday, June 22nd. Finally, BTIG Research restated a “buy” rating and set a $100.00 price objective (down from $120.00) on shares of LGN in a research report on Friday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, LGN currently has a consensus rating of “Moderate Buy” and an average target price of $101.33.

LGN Price Performance

LGN stock traded down $3.30 during mid-day trading on Thursday, hitting $50.05. The stock had a trading volume of 312,701 shares, compared to its average volume of 1,369,406. The firm has a market capitalization of $5.41 billion and a P/E ratio of 124.46. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.03. The firm’s 50 day moving average is $57.58 and its 200 day moving average is $69.63. LGN has a one year low of $30.33 and a one year high of $107.24.

LGN (NASDAQ:LGN) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.63). The company 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, sell-side analysts forecast that LGN will post 1.36 earnings per share for the current fiscal year.

Insider Activity

In other LGN news, CAO Bris Philippe Le sold 4,196 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $54.06, for a total transaction of $226,835.76. Following the transaction, the chief accounting officer directly owned 6,148 shares in the company, valued at $332,360.88. This represents a 40.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.01% of the company’s stock.

Hedge Funds Weigh In On LGN

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV purchased a new stake in LGN during the first quarter valued at approximately $66,000. Nykredit A S purchased a new position in LGN in the second quarter worth $128,000. Avior Wealth Management LLC acquired a new position in shares of LGN during the second quarter worth $203,000. Concurrent Investment Advisors LLC purchased a new stake in shares of LGN during the 2nd quarter valued at $237,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of LGN during the 1st quarter valued at $228,000.

LGN Company Profile

Legence Corp. (NASDAQ: LGN) is an energy-transition and building-solutions company that helps commercial, industrial and institutional customers improve the performance, efficiency and sustainability of their facilities and infrastructure. Its work is focused on reducing energy consumption and emissions while supporting the development, modernization and operation of complex buildings and facilities.

The company provides services that may include engineering, design, construction, building automation and controls, heating, ventilation and air-conditioning systems, electrical services, energy management, renewable-energy solutions, maintenance and facility optimization.