LGN (NASDAQ:LGN) Shares Up 9.4% – What’s Next?

LGN (NASDAQ:LGN)’s share price rose 9.4% during trading on Friday . The stock traded as high as $52.00 and last traded at $51.71. Approximately 134,267 shares changed hands during trading, a decline of 88% from the average daily volume of 1,131,929 shares. The stock had previously closed at $47.28.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on LGN shares. Tigress Financial upped their target price on LGN from $54.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Weiss Ratings started coverage on LGN in a research note on Wednesday, January 14th. They issued a “sell (d+)” rating for the company. Zacks Research upgraded LGN from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. The Goldman Sachs Group boosted their price target on shares of LGN from $46.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Finally, Barclays increased their price target on shares of LGN from $37.00 to $45.00 and gave the company an “equal weight” rating in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.75.

LGN Stock Up 16.8%

The company has a debt-to-equity ratio of 0.98, a current ratio of 1.57 and a quick ratio of 1.57.

Institutional Investors Weigh In On LGN

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

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.