Barclays Issues Pessimistic Forecast for LGN (NASDAQ:LGN) Stock Price

LGN (NASDAQ:LGN) had its price objective dropped by research analysts at Barclays from $80.00 to $60.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential upside of 35.10% from the stock’s current price.

LGN has been the topic of several other research reports. Bank of America lifted their price objective on shares of LGN from $105.00 to $116.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Zacks Research upgraded shares of LGN from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. BTIG Research reaffirmed a “buy” rating and set a $100.00 price objective (down from $120.00) on shares of LGN in a research note on Friday, August 14th. BMO Capital Markets boosted their target price on LGN from $100.00 to $105.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Finally, Weiss Ratings lowered LGN from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, October 8th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, LGN has a consensus rating of “Moderate Buy” and an average target price of $98.75.

LGN Trading Up 2.0%

Shares of LGN stock traded up $0.88 on Monday, reaching $44.41. 449,293 shares of the stock were exchanged, compared to its average volume of 1,373,667. The stock has a market cap of $4.80 billion and a PE ratio of 110.40. LGN has a one year low of $31.26 and a one year high of $107.24. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a 50 day moving average price of $55.27 and a 200 day moving average price of $69.36.

LGN (NASDAQ:LGN) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.63). LGN had a positive return on equity of 4.33% and a negative net margin of 1.20%. The business had revenue of $1.26 billion for the quarter. Equities research analysts forecast that LGN will post 1.36 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Bris Philippe Le sold 1,058 shares of LGN stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $55.01, for a total value of $58,200.58. Following the completion of the transaction, the chief accounting officer owned 4,749 shares of the company’s stock, valued at $261,242.49. This trade represents a 18.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.01% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. KBC Group NV bought a new position in LGN during the first quarter worth $66,000. Nykredit A S bought a new position in LGN during the 2nd quarter worth $128,000. Avior Wealth Management LLC bought a new position in LGN during the 2nd quarter worth $203,000. Concurrent Investment Advisors LLC acquired a new stake in shares of LGN during the second quarter worth $237,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of LGN during the third quarter worth $204,000.

About LGN

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.