Analysts Set LGN (NASDAQ:LGN) Target Price at $53.75

Shares of LGN (NASDAQ:LGN) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $53.75.

A number of research analysts recently commented on the company. Barclays upped their price objective on LGN from $37.00 to $45.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. Weiss Ratings assumed coverage on LGN in a research report on Wednesday, January 14th. They issued a “sell (d+)” rating on the stock. Stifel Nicolaus increased their price target on LGN from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, January 26th. 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. Finally, Tigress Financial boosted 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.

Hedge Funds Weigh In On LGN

Several large investors have recently made changes to their positions in LGN. Comerica Bank purchased a new position in shares of LGN during the 4th quarter worth approximately $192,000. Pictet Asset Management Holding SA acquired a new position in LGN during the fourth quarter worth $1,722,000. Vanguard Group Inc. lifted its stake in LGN by 78.1% during the fourth quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company’s stock worth $138,919,000 after purchasing an additional 1,415,282 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of LGN by 1,073.4% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 86,713 shares of the company’s stock worth $3,732,000 after buying an additional 79,323 shares during the period. Finally, Asset Management One Co. Ltd. acquired a new stake in shares of LGN in the fourth quarter valued at $3,681,000.

LGN Trading Down 9.0%

NASDAQ:LGN opened at $46.91 on Wednesday. LGN has a 1-year low of $26.96 and a 1-year high of $52.74. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.57 and a current ratio of 1.57.

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.