LGN (NASDAQ:LGN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

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

A number of equities analysts have recently weighed in on LGN shares. Stifel Nicolaus increased their target price on LGN from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. The Goldman Sachs Group boosted their price target on LGN from $46.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Tigress Financial upped their price objective on LGN from $54.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Barclays increased their price objective on LGN from $37.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Finally, Weiss Ratings started coverage on shares of LGN in a research report on Wednesday, January 14th. They issued a “sell (d+)” rating for the company.

Institutional Trading of LGN

Several hedge funds and other institutional investors have recently bought and sold shares of LGN. Janus Henderson Group PLC grew its holdings in shares of LGN by 128.4% during the 4th 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 in the last quarter. Westfield Capital Management Co. LP acquired a new position in LGN in the fourth quarter valued at about $69,438,000. Vanguard Group Inc. raised its stake in LGN by 78.1% in the fourth quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company’s stock valued at $138,919,000 after purchasing an additional 1,415,282 shares in the last quarter. Munro Partners lifted its position in LGN by 1,875.9% during the fourth quarter. Munro Partners now owns 1,396,642 shares of the company’s stock worth $60,111,000 after purchasing an additional 1,325,957 shares during the period. Finally, CI Investments Inc. lifted its position in LGN by 2,209.7% during the fourth quarter. CI Investments Inc. now owns 788,287 shares of the company’s stock worth $33,928,000 after purchasing an additional 754,157 shares during the period.

LGN Stock Performance

Shares of LGN stock opened at $51.53 on Thursday. LGN has a 12-month low of $26.96 and a 12-month high of $58.10. The stock’s 50 day moving average is $50.77. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.57 and a quick 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.