LGN (NASDAQ:LGN) Sets New 52-Week High After Analyst Upgrade

LGN (NASDAQ:LGN)’s share price hit a new 52-week high during 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 trading hands. The stock had previously closed at $49.77.

LGN has been the topic of a number of other reports. Weiss Ratings started coverage on LGN in a report on Wednesday, January 14th. They set a “sell (d+)” rating on the stock. Zacks Research upgraded shares of LGN from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. Barclays increased their target price on shares of LGN from $37.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Tigress Financial lifted their price target on shares of LGN from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, LGN has an average rating of “Moderate Buy” and a consensus target price of $54.33.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LGN. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of LGN during the fourth quarter valued at about $3,179,000. LBP AM SA acquired a new stake in shares of LGN in the 4th quarter worth about $2,887,000. Capelight Capital Asset Management LP bought a new position in LGN in the 4th quarter valued at about $4,089,000. Freestone Capital Holdings LLC bought a new position in LGN in the 4th quarter valued at about $1,153,000. Finally, Assetmark Inc. acquired a new position in LGN during the 4th quarter valued at about $31,000.

LGN Price Performance

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.