LGN (NASDAQ:LGN) Reaches New 1-Year High Following Analyst Upgrade

LGN (NASDAQ:LGN) reached a new 52-week high during mid-day trading on Monday after Stifel Nicolaus raised their price target on the stock from $50.00 to $58.00. Stifel Nicolaus currently has a buy rating on the stock. LGN traded as high as $51.80 and last traded at $51.14, with a volume of 101546 shares traded. The stock had previously closed at $49.77.

Several other equities research analysts also recently issued reports on LGN. Zacks Research raised shares of LGN from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. Barclays raised their target price on shares of LGN from $37.00 to $45.00 and gave the company an “equal weight” rating in a research note on Friday. Tigress Financial upped their price objective on shares of LGN from $54.00 to $60.00 and gave the company a “buy” rating in a report on Thursday. Finally, Weiss Ratings started coverage on LGN in a research report on Wednesday, January 14th. They issued a “sell (d+)” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.33.

Hedge Funds Weigh In On LGN

Hedge funds and other institutional investors have recently made changes to their positions in the business. Harbor Capital Advisors Inc. purchased a new stake in LGN in the fourth quarter worth approximately $1,220,000. Assetmark Inc. bought a new position in LGN in the fourth quarter valued at about $31,000. Freestone Capital Holdings LLC purchased a new position in LGN in the fourth quarter worth about $1,153,000. Capelight Capital Asset Management LP bought a new stake in shares of LGN during the 4th quarter valued at about $4,089,000. Finally, LBP AM SA purchased a new stake in shares of LGN during the 4th quarter valued at about $2,887,000.

LGN Trading Up 2.4%

The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.57 and a current ratio of 1.57.

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.