LGN (NASDAQ:LGN) Posts Quarterly Earnings Results, Misses Expectations By $0.60 EPS

LGN (NASDAQ:LGN) announced its earnings results on Friday. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.60), Briefing.com reports. The business’s revenue was up 34.5% compared to the same quarter last year.

LGN Stock Performance

LGN opened at $57.05 on Friday. LGN has a fifty-two week low of $26.96 and a fifty-two week high of $60.50. The firm’s 50-day moving average is $51.06. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.57 and a quick ratio of 1.57.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LGN. Invesco Ltd. purchased a new stake in shares of LGN during the 4th quarter worth approximately $1,014,000. Regal Partners Ltd purchased a new position in LGN in the fourth quarter valued at approximately $1,076,000. XTX Topco Ltd purchased a new position in LGN in the fourth quarter valued at approximately $880,000. Symmetry Investments LP grew its holdings in LGN by 21.9% during the fourth quarter. Symmetry Investments LP now owns 9,750 shares of the company’s stock valued at $420,000 after purchasing an additional 1,750 shares during the period. Finally, Sona Asset Management US LLC bought a new position in LGN during the fourth quarter valued at $646,000.

Analyst Upgrades and Downgrades

LGN has been the topic of several analyst reports. Guggenheim boosted their price target on shares of LGN from $53.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday. Tigress Financial lifted their target price on shares of LGN from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Barclays boosted their target price on LGN from $37.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Zacks Research raised LGN from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. Finally, The Goldman Sachs Group increased their price target on LGN from $46.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.60.

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.