LGN (NASDAQ:LGN) Receives $53.75 Consensus Target Price from Analysts

Shares of LGN (NASDAQ:LGN) have received an average recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $53.75.

A number of analysts have recently weighed in on the company. The Goldman Sachs Group raised their price objective on LGN from $46.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Zacks Research raised LGN from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. Barclays increased their price target on LGN from $37.00 to $45.00 and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Stifel Nicolaus boosted their price target on LGN from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Finally, 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, January 22nd.

LGN Stock Up 4.9%

NASDAQ LGN opened at $55.81 on Thursday. The business has a fifty day moving average price of $50.93. 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 has a 12-month low of $26.96 and a 12-month high of $58.10.

Hedge Funds Weigh In On LGN

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new stake in LGN during the 4th quarter worth about $1,220,000. Assetmark Inc. acquired a new position in shares of LGN in the fourth quarter valued at about $31,000. Freestone Capital Holdings LLC purchased a new position in shares of LGN in the fourth quarter worth about $1,153,000. Capelight Capital Asset Management LP purchased a new position in shares of LGN in the fourth quarter worth about $4,089,000. Finally, LBP AM SA acquired a new stake in shares of LGN during the fourth quarter worth about $2,887,000.

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.