LGN (NASDAQ:LGN) Price Target Raised to $72.00

LGN (NASDAQ:LGN) had its price objective hoisted by The Goldman Sachs Group from $63.00 to $72.00 in a report issued on Thursday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. Zacks Research downgraded LGN from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Stifel Nicolaus increased their price objective on shares of LGN from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, March 31st. BMO Capital Markets raised their target price on shares of LGN from $46.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Royal Bank Of Canada lifted their target price on shares of LGN from $48.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. Finally, Tigress Financial reiterated a “buy” rating and issued a $60.00 price target on shares of LGN in a research note on Friday, March 27th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, LGN has a consensus rating of “Moderate Buy” and an average price target of $66.50.

LGN Stock Up 7.2%

Shares of NASDAQ LGN opened at $73.77 on Thursday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.03. The stock’s 50 day simple moving average is $54.99. The firm has a market capitalization of $7.97 billion and a P/E ratio of -7,377.00. LGN has a twelve month low of $26.96 and a twelve month high of $74.48.

LGN (NASDAQ:LGN) last released its quarterly earnings data on Friday, March 27th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.60). The firm had revenue of $737.64 million during the quarter, compared to the consensus estimate of $616.05 million. The firm’s revenue was up 34.5% compared to the same quarter last year.

Institutional Investors Weigh In On LGN

Hedge funds and other institutional investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. bought a new stake in shares of LGN in the fourth quarter valued at about $2,559,000. Mariner Investment Group LLC acquired a new position in shares of LGN in the fourth quarter valued at about $430,000. Invesco Ltd. bought a new position in LGN during the fourth quarter worth about $1,014,000. Alberta Investment Management Corp increased 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 worth $16,903,000 after acquiring an additional 92,738 shares during the period. Finally, Regal Partners Ltd acquired a new stake in LGN in the 4th quarter worth about $1,076,000.

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.