LGN (NASDAQ:LGN) Price Target Raised to $63.00

LGN (NASDAQ:LGN) had its price objective boosted by The Goldman Sachs Group from $52.00 to $63.00 in a research note issued to investors on Monday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Other analysts have also issued research reports about the company. Tigress Financial restated a “buy” rating and issued a $60.00 target price on shares of LGN in a report on Friday, March 27th. Barclays lifted their price target on LGN from $37.00 to $45.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. Zacks Research lowered LGN from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. BTIG Research increased their price objective on LGN from $45.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. Finally, Royal Bank Of Canada raised their price objective on LGN from $48.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.25.

LGN Stock Performance

LGN stock opened at $59.60 on Monday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.98. LGN has a 52-week low of $26.96 and a 52-week high of $60.50. The company’s 50 day moving average price is $51.66.

LGN (NASDAQ:LGN) last posted its quarterly earnings data on Friday, March 27th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.60). The company had revenue of $737.64 million for the quarter, compared to analysts’ expectations of $616.05 million. LGN’s revenue for the quarter was up 34.5% on a year-over-year basis.

Institutional Investors Weigh In On LGN

Institutional investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. acquired a new position in shares of LGN in the fourth quarter worth $2,559,000. Mariner Investment Group LLC purchased a new stake in shares of LGN during the fourth quarter worth $430,000. Invesco Ltd. acquired a new stake in LGN during the fourth quarter valued at $1,014,000. Alberta Investment Management Corp boosted its position in LGN by 30.9% during the fourth quarter. Alberta Investment Management Corp now owns 392,738 shares of the company’s stock valued at $16,903,000 after purchasing an additional 92,738 shares during the last quarter. Finally, Regal Partners Ltd purchased a new position in LGN in the fourth quarter valued at about $1,076,000.

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.