BTIG Research Issues Positive Forecast for LGN (NASDAQ:LGN) Stock Price

LGN (NASDAQ:LGN) had its price objective hoisted by research analysts at BTIG Research from $45.00 to $75.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s target price indicates a potential upside of 35.50% from the company’s previous close.

Several other research firms have also commented on LGN. Barclays raised their price objective on shares of LGN from $37.00 to $45.00 and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Zacks Research upgraded LGN from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. Weiss Ratings began coverage on LGN in a report on Wednesday, January 14th. They set a “sell (d+)” rating on the stock. Tigress Financial boosted their price objective on LGN from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Finally, Stifel Nicolaus upped their target price on shares of LGN from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.67.

LGN Stock Up 4.5%

NASDAQ LGN traded up $2.37 on Friday, reaching $55.35. The stock had a trading volume of 703,591 shares, compared to its average volume of 1,045,032. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.98. The company’s fifty day moving average price is $51.06. LGN has a 12-month low of $26.96 and a 12-month high of $60.50.

LGN (NASDAQ:LGN) last issued its quarterly earnings data on Friday, March 27th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.60). The company’s revenue was up 34.5% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC lifted its stake in LGN by 128.4% during the fourth quarter. Janus Henderson Group PLC now owns 4,401,402 shares of the company’s stock worth $189,442,000 after purchasing an additional 2,474,220 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of LGN in the 4th quarter valued at $69,438,000. Vanguard Group Inc. grew its position in shares of LGN by 78.1% in the 4th quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company’s stock valued at $138,919,000 after buying an additional 1,415,282 shares during the last quarter. Munro Partners lifted its position in LGN by 1,875.9% in the fourth quarter. Munro Partners now owns 1,396,642 shares of the company’s stock valued at $60,111,000 after acquiring an additional 1,325,957 shares during the last quarter. Finally, CI Investments Inc. boosted its stake in LGN by 2,209.7% in the fourth quarter. CI Investments Inc. now owns 788,287 shares of the company’s stock valued at $33,928,000 after acquiring an additional 754,157 shares in the last quarter.

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.